diff --git a/setup.py b/setup.py
index 7b302e6a48..f7e6d7e6cd 100644
--- a/setup.py
+++ b/setup.py
@@ -52,11 +52,14 @@ if not path.exists(README):
 with open(README) as f:
     long_description = f.read()
 
+version_number = ''
+with open('VERSION_NUMBER') as f:
+    version_number = f.readline().strip()
 
 # Setup
 setup(
     name=package_name,
-    version='0.3.0',
+    version=version_number,
     description='ONNX Runtime Python bindings',
     long_description=long_description,
     author='Microsoft Corporation',
diff --git a/tools/python/update_version.py b/tools/python/update_version.py
new file mode 100755
index 0000000000..340f66bb2e
--- /dev/null
+++ b/tools/python/update_version.py
@@ -0,0 +1,82 @@
+import os
+
+def update_version():
+    version = ''
+    cwd = os.path.dirname(os.path.realpath(__file__)) 
+    with open(os.path.join(cwd, '..', '..', 'VERSION_NUMBER')) as f:
+        version = f.readline().strip()
+    lines = []
+    current_version = ''
+    file_path = os.path.join(cwd, '..', '..', 'docs', 'Versioning.md')
+    with open(file_path) as f:
+        lines = f.readlines()
+        for line in lines:
+            if line.startswith('|'):
+                sections = line.split('|')
+                if len(sections) == 6 and sections[1].strip()[0].isdigit() :
+                    current_version = sections[1].strip()
+                    break
+    if version != current_version:
+        with open(file_path, 'w') as f:
+            for i,line in enumerate(lines):
+                f.write(line)
+                if line.startswith('|--'):
+                    sections = lines[i+1].split('|')
+                    sections[1] = ' ' + version + ' '
+                    new_line = '|'.join(sections)
+                    f.write(new_line)
+    lines = []
+    current_version = ''
+    file_path = os.path.join(cwd, '..', '..', 'docs', 'python', 'README.rst')
+    with open(file_path) as f:
+        lines = f.readlines()
+        for line in lines:
+            sections = line.strip().split('.')
+            if len(sections) == 3 and sections[0].isdigit() and sections[1].isdigit() and sections[2].isdigit():
+                current_version = line.strip()
+                break
+    if version != current_version:
+        inserted = False
+        with open(file_path,'w') as f:
+            for line in lines:
+                sections = line.strip().split('.')
+                if inserted == False and len(sections) == 3 and sections[0].isdigit() and sections[1].isdigit() and sections[2].isdigit():
+                    f.write(version + '\n')
+                    f.write('^^^^^\n\n')
+                    inserted = True
+                f.write(line)
+    lines = []
+    current_version = ''
+    file_path = os.path.join(cwd, '..', '..', 'package', 'rpm', 'onnxruntime.spec')
+    with open(file_path) as f:
+        lines = f.readlines()
+        for line in lines:
+            if line.startswith('Version:'):
+                current_version = line.split(':')[1].strip()
+                break
+    if version != current_version:
+        with open(file_path, 'w') as f:
+            for line in lines:
+                if line.startswith('Version:'):
+                    f.write('Version:        ' + version + '\n')
+                    continue
+                f.write(line)
+    lines = []
+    current_version = ''
+    file_path = os.path.join(cwd, '..', '..', 'onnxruntime', '__init__.py')
+    with open(file_path) as f:
+        lines = f.readlines()
+        for line in lines:
+            if line.startswith('__version__'):
+                current_version = line.split('=')[1].strip()[1:-1]
+                break
+    if version != current_version:
+        with open(file_path, 'w') as f:
+            for line in lines:
+                if line.startswith('__version__'):
+                    f.write('__version__ = "' + version + '"\n')
+                    continue
+                f.write(line)
+
+if __name__ == "__main__":
+    update_version()