diff --git a/doxygen/input/doc_mainpage.h b/doxygen/input/doc_mainpage.h
index 9a2728682..39b6ffa0c 100644
--- a/doxygen/input/doc_mainpage.h
+++ b/doxygen/input/doc_mainpage.h
@@ -51,7 +51,7 @@
  */
 
 /**
- * @mainpage mbed TLS v2.7.15 source code documentation
+ * @mainpage mbed TLS v2.7.16 source code documentation
  *
  * This documentation describes the internal structure of mbed TLS.  It was
  * automatically generated from specially formatted comment blocks in
diff --git a/doxygen/mbedtls.doxyfile b/doxygen/mbedtls.doxyfile
index 2484b0101..58006c9be 100644
--- a/doxygen/mbedtls.doxyfile
+++ b/doxygen/mbedtls.doxyfile
@@ -28,7 +28,7 @@ DOXYFILE_ENCODING      = UTF-8
 # identify the project. Note that if you do not use Doxywizard you need
 # to put quotes around the project name if it contains spaces.
 
-PROJECT_NAME           = "mbed TLS v2.7.15"
+PROJECT_NAME           = "mbed TLS v2.7.16"
 
 # The PROJECT_NUMBER tag can be used to enter a project or revision number.
 # This could be handy for archiving the generated documentation or
diff --git a/include/mbedtls/version.h b/include/mbedtls/version.h
index 815ef5159..289ec75ef 100644
--- a/include/mbedtls/version.h
+++ b/include/mbedtls/version.h
@@ -67,16 +67,16 @@
  */
 #define MBEDTLS_VERSION_MAJOR  2
 #define MBEDTLS_VERSION_MINOR  7
-#define MBEDTLS_VERSION_PATCH  15
+#define MBEDTLS_VERSION_PATCH  16
 
 /**
  * The single version number has the following structure:
  *    MMNNPP00
  *    Major version | Minor version | Patch version
  */
-#define MBEDTLS_VERSION_NUMBER         0x02070F00
-#define MBEDTLS_VERSION_STRING         "2.7.15"
-#define MBEDTLS_VERSION_STRING_FULL    "mbed TLS 2.7.15"
+#define MBEDTLS_VERSION_NUMBER         0x02071000
+#define MBEDTLS_VERSION_STRING         "2.7.16"
+#define MBEDTLS_VERSION_STRING_FULL    "mbed TLS 2.7.16"
 
 #if defined(MBEDTLS_VERSION_C)
 
diff --git a/library/CMakeLists.txt b/library/CMakeLists.txt
index 0bdf20fe8..72304eb42 100644
--- a/library/CMakeLists.txt
+++ b/library/CMakeLists.txt
@@ -147,15 +147,15 @@ endif(USE_STATIC_MBEDTLS_LIBRARY)
 
 if(USE_SHARED_MBEDTLS_LIBRARY)
     add_library(mbedcrypto SHARED ${src_crypto})
-    set_target_properties(mbedcrypto PROPERTIES VERSION 2.7.15 SOVERSION 2)
+    set_target_properties(mbedcrypto PROPERTIES VERSION 2.7.16 SOVERSION 2)
     target_link_libraries(mbedcrypto ${libs})
 
     add_library(mbedx509 SHARED ${src_x509})
-    set_target_properties(mbedx509 PROPERTIES VERSION 2.7.15 SOVERSION 0)
+    set_target_properties(mbedx509 PROPERTIES VERSION 2.7.16 SOVERSION 0)
     target_link_libraries(mbedx509 ${libs} mbedcrypto)
 
     add_library(mbedtls SHARED ${src_tls})
-    set_target_properties(mbedtls PROPERTIES VERSION 2.7.15 SOVERSION 10)
+    set_target_properties(mbedtls PROPERTIES VERSION 2.7.16 SOVERSION 10)
     target_link_libraries(mbedtls ${libs} mbedx509)
 
     install(TARGETS mbedtls mbedx509 mbedcrypto
diff --git a/tests/suites/test_suite_version.data b/tests/suites/test_suite_version.data
index ac9bf5160..8e49af8f3 100644
--- a/tests/suites/test_suite_version.data
+++ b/tests/suites/test_suite_version.data
@@ -1,8 +1,8 @@
 Check compiletime library version
-check_compiletime_version:"2.7.15"
+check_compiletime_version:"2.7.16"
 
 Check runtime library version
-check_runtime_version:"2.7.15"
+check_runtime_version:"2.7.16"
 
 Check for MBEDTLS_VERSION_C
 check_feature:"MBEDTLS_VERSION_C":0