diff --git a/cmd/version.go b/cmd/version.go
index ba95a2f7..35168c15 100644
--- a/cmd/version.go
+++ b/cmd/version.go
@@ -11,7 +11,7 @@ var (
 	GitDescribe string
 
 	// Version is main version number that is being run at the moment.
-	Version = "4.26.1"
+	Version = "4.27.1"
 
 	// VersionPrerelease is a pre-release marker for the version. If this is "" (empty string)
 	// then it means that it is a final release. Otherwise, this is a pre-release
diff --git a/snap/snapcraft.yaml b/snap/snapcraft.yaml
index 6a85b3db..c92c17a2 100644
--- a/snap/snapcraft.yaml
+++ b/snap/snapcraft.yaml
@@ -1,5 +1,5 @@
 name: yq
-version: '4.26.1'
+version: '4.27.1'
 summary: A lightweight and portable command-line YAML processor
 description: |
   The aim of the project is to be the jq or sed of yaml files.