diff --git a/.github/workflows/post-release-bump.yml b/.github/workflows/post-release-bump.yml
new file mode 100644
index 0000000000..0a8a3fcdef
--- /dev/null
+++ b/.github/workflows/post-release-bump.yml
@@ -0,0 +1,49 @@
+name: Post-Release Version Bump
+
+on:
+  push:
+    tags:
+      - 'v*.*.*'
+
+jobs:
+  bump-version:
+    runs-on: ubuntu-latest
+    steps:
+      - name: Checkout main branch
+        uses: actions/checkout@v4
+        with:
+          ref: main
+          token: ${{ secrets.GITHUB_TOKEN }}
+
+      - name: Extract release version and decide bump type
+        run: |
+          TAG_VERSION="${GITHUB_REF#refs/tags/v}"
+          echo "TAG_VERSION=$TAG_VERSION" >> $GITHUB_ENV
+          MAJOR=$(echo "$TAG_VERSION" | cut -d. -f1)
+          MINOR=$(echo "$TAG_VERSION" | cut -d. -f2)
+          PATCH=$(echo "$TAG_VERSION" | cut -d. -f3)
+
+          # Always bump minor version and reset patch
+          NEW_MAJOR=$MAJOR
+          NEW_MINOR=$((MINOR + 1))
+          NEW_PATCH=0
+
+          echo "NEW_MAJOR=$NEW_MAJOR" >> $GITHUB_ENV
+          echo "NEW_MINOR=$NEW_MINOR" >> $GITHUB_ENV
+          echo "NEW_PATCH=$NEW_PATCH" >> $GITHUB_ENV
+
+      - name: Update version.h to DEV version
+        run: |
+          FILE_PATH="include/opentelemetry/version.h"
+          sed -i "s|#define OPENTELEMETRY_VERSION \".*\"|#define OPENTELEMETRY_VERSION \"${NEW_MAJOR}.${NEW_MINOR}.${NEW_PATCH}-DEV\"|" "$FILE_PATH"
+          sed -i "s|#define OPENTELEMETRY_VERSION_MAJOR .*|#define OPENTELEMETRY_VERSION_MAJOR ${NEW_MAJOR}|" "$FILE_PATH"
+          sed -i "s|#define OPENTELEMETRY_VERSION_MINOR .*|#define OPENTELEMETRY_VERSION_MINOR ${NEW_MINOR}|" "$FILE_PATH"
+          sed -i "s|#define OPENTELEMETRY_VERSION_PATCH .*|#define OPENTELEMETRY_VERSION_PATCH ${NEW_PATCH}|" "$FILE_PATH"
+
+      - name: Commit and push changes
+        run: |
+          git config user.name "github-actions[bot]"
+          git config user.email "github-actions[bot]@users.noreply.github.com"
+          git add include/opentelemetry/version.h
+          git commit -m "Bump version to ${NEW_MAJOR}.${NEW_MINOR}.${NEW_PATCH}-DEV after release" || echo "No changes to commit"
+          git push origin main
diff --git a/.github/workflows/pre-release.yml b/.github/workflows/pre-release.yml
new file mode 100644
index 0000000000..a9028296e4
--- /dev/null
+++ b/.github/workflows/pre-release.yml
@@ -0,0 +1,54 @@
+name: Pre-Release Preparation
+
+on:
+  workflow_dispatch:
+    inputs:
+      version:
+        description: 'Release version (e.g. 1.23.0)'
+        required: true
+        type: string
+
+jobs:
+  prepare-release:
+    runs-on: ubuntu-latest
+    steps:
+      - name: Checkout main branch
+        uses: actions/checkout@v4
+        with:
+          ref: main
+          token: ${{ secrets.GITHUB_TOKEN }}
+
+      - name: Validate current version contains -DEV
+        run: |
+          FILE_PATH="api/include/opentelemetry/version.h"
+          if ! grep -q -- "-DEV" "$FILE_PATH"; then
+            echo "Error: version.h does not contain -DEV. Aborting to prevent overwriting a release."
+            exit 1
+          fi
+
+      - name: Remove -DEV from version.h
+        run: |
+          FILE_PATH="api/include/opentelemetry/version.h"
+          VERSION="${{ github.event.inputs.version }}"
+
+          MAJOR=$(echo "$VERSION" | cut -d. -f1)
+          MINOR=$(echo "$VERSION" | cut -d. -f2)
+          PATCH=$(echo "$VERSION" | cut -d. -f3)
+
+          sed -i "s|#define OPENTELEMETRY_VERSION \".*\"|#define OPENTELEMETRY_VERSION \"${VERSION}\"|" "$FILE_PATH"
+          sed -i "s|#define OPENTELEMETRY_VERSION_MAJOR .*|#define OPENTELEMETRY_VERSION_MAJOR ${MAJOR}|" "$FILE_PATH"
+          sed -i "s|#define OPENTELEMETRY_VERSION_MINOR .*|#define OPENTELEMETRY_VERSION_MINOR ${MINOR}|" "$FILE_PATH"
+          sed -i "s|#define OPENTELEMETRY_VERSION_PATCH .*|#define OPENTELEMETRY_VERSION_PATCH ${PATCH}|" "$FILE_PATH"
+
+      - name: Commit clean release version
+        run: |
+          git config user.name "github-actions[bot]"
+          git config user.email "github-actions[bot]@users.noreply.github.com"
+          git add api/include/opentelemetry/version.h
+          git commit -m "Prepare release ${{ github.event.inputs.version }}" || echo "No changes to commit"
+          git push origin main
+
+      - name: Create and push tag
+        run: |
+          git tag -a "v${{ github.event.inputs.version }}" -m "Release v${{ github.event.inputs.version }}"
+          git push origin "v${{ github.event.inputs.version }}"
diff --git a/api/include/opentelemetry/version.h b/api/include/opentelemetry/version.h
index ab69ca02f2..63b296498b 100644
--- a/api/include/opentelemetry/version.h
+++ b/api/include/opentelemetry/version.h
@@ -10,9 +10,12 @@
 #  define OPENTELEMETRY_ABI_VERSION_NO 1
 #endif
 
-#define OPENTELEMETRY_VERSION "1.22.0"
+// Development version after 1.23.0 release
+#define OPENTELEMETRY_VERSION "1.24.0-DEV"
+#define OPENTELEMETRY_VERSION_DEV "1.24.0-DEV"
+
 #define OPENTELEMETRY_VERSION_MAJOR 1
-#define OPENTELEMETRY_VERSION_MINOR 22
+#define OPENTELEMETRY_VERSION_MINOR 24
 #define OPENTELEMETRY_VERSION_PATCH 0
 
 #define OPENTELEMETRY_ABI_VERSION OPENTELEMETRY_STRINGIFY(OPENTELEMETRY_ABI_VERSION_NO)
@@ -25,5 +28,4 @@
   }}
 
 #define OPENTELEMETRY_NAMESPACE opentelemetry :: OPENTELEMETRY_CONCAT(v, OPENTELEMETRY_ABI_VERSION_NO)
-
 // clang-format on