diff --git a/configure.ac b/configure.ac
index b12b7fae1f..a46b9c693b 100644
--- a/configure.ac
+++ b/configure.ac
@@ -16,7 +16,7 @@ dnl You should have received a copy of the GNU Lesser General Public
 dnl License along with this library.  If not, see
 dnl <http://www.gnu.org/licenses/>.
 
-AC_INIT([libvirt], [3.7.0], [libvir-list@redhat.com], [], [http://libvirt.org])
+AC_INIT([libvirt], [3.8.0], [libvir-list@redhat.com], [], [http://libvirt.org])
 AC_CONFIG_SRCDIR([src/libvirt.c])
 AC_CONFIG_AUX_DIR([build-aux])
 AC_CONFIG_HEADERS([config.h])
diff --git a/docs/news.xml b/docs/news.xml
index 3e3a70a12e..4527117176 100644
--- a/docs/news.xml
+++ b/docs/news.xml
@@ -33,6 +33,14 @@
      -->
 
 <libvirt>
+  <release version="v3.8.0" date="unreleased">
+    <section title="New features">
+    </section>
+    <section title="Improvements">
+    </section>
+    <section title="Bug fixes">
+    </section>
+  </release>
   <release version="v3.7.0" date="2017-09-04">
     <section title="New features">
       <change>