diff --git a/README.md b/README.md
index 1f5121e5c1..33dd64371d 100644
--- a/README.md
+++ b/README.md
@@ -6,7 +6,7 @@
 [![Join the chat at https://gitter.im/Microsoft/pai](https://badges.gitter.im/Microsoft/pai.svg)](https://gitter.im/Microsoft/pai?utm_source=badge&utm_medium=badge&utm_campaign=pr-badge&utm_content=badge)
 [![Version](https://img.shields.io/github/release/Microsoft/pai.svg)](https://github.com/Microsoft/pai/releases/latest)
 
-**OpenPAI [v1.2.0](./RELEASE_NOTE.md#Sep-2020-version-120) has been released!**
+**OpenPAI [v1.2.1](./RELEASE_NOTE.md#Oct-2020-version-121) has been released!**
 
 With the release of v1.0, OpenPAI is switching to a more robust, more powerful and lightweight architecture. OpenPAI is also becoming more and more modular so that the platform can be easily customized and expanded to suit new needs. OpenPAI also provides many AI user-friendly features, making it easier for end users and administrators to complete daily AI tasks.
 
diff --git a/RELEASE_NOTE.md b/RELEASE_NOTE.md
index ef1a857298..8d64121faf 100644
--- a/RELEASE_NOTE.md
+++ b/RELEASE_NOTE.md
@@ -1,5 +1,9 @@
 # OpenPAI Release Note
 
+## Oct 2020 (version 1.2.1)
+
+[minor release with hot fix](https://github.com/microsoft/pai/releases/tag/v1.2.1).
+
 ## Sep 2020 (version 1.2.0)
 
 - Database
diff --git a/version/K8S.VERSION b/version/K8S.VERSION
index 0aeaea31aa..464294dd95 100644
--- a/version/K8S.VERSION
+++ b/version/K8S.VERSION
@@ -1 +1 @@
-v1.2.0-1.15.x
+v1.2.1-1.15.x
diff --git a/version/PAI.VERSION b/version/PAI.VERSION
index 79127d85a4..6a5e98a744 100644
--- a/version/PAI.VERSION
+++ b/version/PAI.VERSION
@@ -1 +1 @@
-v1.2.0
+v1.2.1