diff --git a/VERSION b/VERSION
index ac454c6a..34a83616 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-0.12.0
+0.12.1
diff --git a/manifests/base/kustomization.yaml b/manifests/base/kustomization.yaml
index 2c45b278..cf81f008 100644
--- a/manifests/base/kustomization.yaml
+++ b/manifests/base/kustomization.yaml
@@ -3,7 +3,7 @@ kind: Kustomization
 
 images:
 - name: quay.io/argoprojlabs/argocd-image-updater
-  newTag: v0.12.0
+  newTag: v0.12.1
 
 bases:
 - ./config
diff --git a/manifests/install.yaml b/manifests/install.yaml
index 535ca280..2141e60e 100644
--- a/manifests/install.yaml
+++ b/manifests/install.yaml
@@ -165,7 +165,7 @@ spec:
               key: kube.events
               name: argocd-image-updater-config
               optional: true
-        image: quay.io/argoprojlabs/argocd-image-updater:v0.12.0
+        image: quay.io/argoprojlabs/argocd-image-updater:v0.12.1
         imagePullPolicy: Always
         livenessProbe:
           httpGet: