diff --git a/CHANGELOG.md b/CHANGELOG.md
index dd7cc3f0b..5893c0946 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,6 +1,6 @@
 # Changelog
 
-## Unreleased
+## 4.2.0
 
  * `ERC20Votes`: add a new extension of the `ERC20` token with support for voting snapshots and delegation. ([#2632](https://github.com/OpenZeppelin/openzeppelin-contracts/pull/2632))
  * `ERC20VotesComp`: Variant of `ERC20Votes` that is compatible with Compound's `Comp` token interface but restricts supply to `uint96`. ([#2706](https://github.com/OpenZeppelin/openzeppelin-contracts/pull/2706))
diff --git a/contracts/package.json b/contracts/package.json
index 160a3ca9a..90d539ab9 100644
--- a/contracts/package.json
+++ b/contracts/package.json
@@ -1,7 +1,7 @@
 {
   "name": "@openzeppelin/contracts",
   "description": "Secure Smart Contract library for Solidity",
-  "version": "4.1.0",
+  "version": "4.2.0-rc.0",
   "files": [
     "**/*.sol",
     "/build/contracts/*.json",
diff --git a/package-lock.json b/package-lock.json
index c6c81288e..8a72f69f5 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -1,12 +1,12 @@
 {
   "name": "openzeppelin-solidity",
-  "version": "4.1.0",
+  "version": "4.2.0-rc.0",
   "lockfileVersion": 2,
   "requires": true,
   "packages": {
     "": {
       "name": "openzeppelin-solidity",
-      "version": "4.1.0",
+      "version": "4.2.0-rc.0",
       "license": "MIT",
       "bin": {
         "openzeppelin-contracts-migrate-imports": "scripts/migrate-imports.js"
diff --git a/package.json b/package.json
index 384e14327..cc24600bb 100644
--- a/package.json
+++ b/package.json
@@ -1,7 +1,7 @@
 {
   "name": "openzeppelin-solidity",
   "description": "Secure Smart Contract library for Solidity",
-  "version": "4.1.0",
+  "version": "4.2.0-rc.0",
   "files": [
     "/contracts/**/*.sol",
     "/build/contracts/*.json",