diff --git a/configure.ac b/configure.ac
index 98c59363026..a89f58628ba 100644
--- a/configure.ac
+++ b/configure.ac
@@ -13,7 +13,7 @@
 # OR IN CONNECTION WITH THE USE OR PERFORMANCE OF THIS SOFTWARE.
 
 AC_PREREQ(2.57)
-AC_INIT([libuv], [1.49.2], [https://github.com/libuv/libuv/issues])
+AC_INIT([libuv], [1.49.3-dev], [https://github.com/libuv/libuv/issues])
 AC_CONFIG_MACRO_DIR([m4])
 m4_include([m4/libuv-extra-automake-flags.m4])
 m4_include([m4/as_case.m4])
diff --git a/include/uv/version.h b/include/uv/version.h
index cfa7871322e..04af319ae35 100644
--- a/include/uv/version.h
+++ b/include/uv/version.h
@@ -32,9 +32,9 @@
 
 #define UV_VERSION_MAJOR 1
 #define UV_VERSION_MINOR 49
-#define UV_VERSION_PATCH 2
-#define UV_VERSION_IS_RELEASE 1
-#define UV_VERSION_SUFFIX ""
+#define UV_VERSION_PATCH 3
+#define UV_VERSION_IS_RELEASE 0
+#define UV_VERSION_SUFFIX "dev"
 
 #define UV_VERSION_HEX  ((UV_VERSION_MAJOR << 16) | \
                          (UV_VERSION_MINOR <<  8) | \