diff --git a/Makefile b/Makefile
index 7920a21d5..12b9efd4c 100644
--- a/Makefile
+++ b/Makefile
@@ -19,7 +19,7 @@ STAGINGIMAGE=${GCE_PD_CSI_STAGING_IMAGE}
 STAGINGVERSION=${GCE_PD_CSI_STAGING_VERSION}
 
 PRODIMAGE=gcr.io/gke-release/gcp-compute-persistent-disk-csi-driver
-PRODVERSION=v0.3.0
+PRODVERSION=v0.4.0
 
 all: gce-pd-driver
 
diff --git a/README.md b/README.md
index a19152a4a..9dbce9835 100644
--- a/README.md
+++ b/README.md
@@ -11,7 +11,7 @@ lifecycle of Google Compute Engine Persistent Disks.
 
 ## Project Status
 Status: Beta
-Latest stable image: `gcr.io/gke-release/gcp-compute-persistent-disk-csi-driver:v0.3.0-gke.0`
+Latest stable image: `gcr.io/gke-release/gcp-compute-persistent-disk-csi-driver:v0.4.0-gke.0`
 
 ### Test Status
 
@@ -30,6 +30,7 @@ This plugin is compatible with CSI versions [v1.0.0](https://github.com/containe
 | v0.1.0.alpha                         | yes           | no   | no    |
 | v0.2.0 (alpha)                       | no            | yes  | no    |
 | v0.3.0 (beta)                        | no            | no   | yes   |
+| v0.4.0 (beta)                        | no            | no   | yes   |
 | dev                                  | no            | no   | yes   |
 
 ### Known Issues
diff --git a/deploy/kubernetes/overlays/stable/controller_images.yaml b/deploy/kubernetes/overlays/stable/controller_images.yaml
index 69c24bcdb..2da3b9f91 100644
--- a/deploy/kubernetes/overlays/stable/controller_images.yaml
+++ b/deploy/kubernetes/overlays/stable/controller_images.yaml
@@ -11,4 +11,4 @@ spec:
         - name: csi-attacher
           image: gcr.io/gke-release/csi-attacher:v1.0.1-gke.0
         - name: gce-pd-driver
-          image: gcr.io/gke-release/gcp-compute-persistent-disk-csi-driver:v0.3.1-gke.0
+          image: gcr.io/gke-release/gcp-compute-persistent-disk-csi-driver:v0.4.0-gke.0
diff --git a/deploy/kubernetes/overlays/stable/node_images.yaml b/deploy/kubernetes/overlays/stable/node_images.yaml
index fdaec3f18..ba8e84862 100644
--- a/deploy/kubernetes/overlays/stable/node_images.yaml
+++ b/deploy/kubernetes/overlays/stable/node_images.yaml
@@ -9,4 +9,4 @@ spec:
         - name: csi-driver-registrar
           image: gcr.io/gke-release/csi-node-driver-registrar:v1.0.1-gke.0
         - name: gce-pd-driver
-          image: gcr.io/gke-release/gcp-compute-persistent-disk-csi-driver:v0.3.1-gke.0
\ No newline at end of file
+          image: gcr.io/gke-release/gcp-compute-persistent-disk-csi-driver:v0.4.0-gke.0
\ No newline at end of file