diff --git a/sdk/resourcemanager/Azure.ResourceManager/CHANGELOG.md b/sdk/resourcemanager/Azure.ResourceManager/CHANGELOG.md
index c4e771851b3b..9f3eb4856447 100644
--- a/sdk/resourcemanager/Azure.ResourceManager/CHANGELOG.md
+++ b/sdk/resourcemanager/Azure.ResourceManager/CHANGELOG.md
@@ -1,5 +1,15 @@
 # Release History
 
+## 1.8.0-beta.1 (Unreleased)
+
+### Features Added
+
+### Breaking Changes
+
+### Bugs Fixed
+
+### Other Changes
+
 ## 1.7.0 (2023-07-13)
 
 ### Other Changes
diff --git a/sdk/resourcemanager/Azure.ResourceManager/src/Azure.ResourceManager.csproj b/sdk/resourcemanager/Azure.ResourceManager/src/Azure.ResourceManager.csproj
index f21d5b4daac1..0cc271d474ff 100644
--- a/sdk/resourcemanager/Azure.ResourceManager/src/Azure.ResourceManager.csproj
+++ b/sdk/resourcemanager/Azure.ResourceManager/src/Azure.ResourceManager.csproj
@@ -1,9 +1,9 @@
 <Project Sdk="Microsoft.NET.Sdk">
 
   <PropertyGroup>
-    <Version>1.7.0</Version>
+    <Version>1.8.0-beta.1</Version>
     <!--The ApiCompatVersion is managed automatically and should not generally be modified manually.-->
-    <ApiCompatVersion>1.6.0</ApiCompatVersion>
+    <ApiCompatVersion>1.7.0</ApiCompatVersion>
     <PackageId>Azure.ResourceManager</PackageId>
     <Description>Microsoft Azure Resource Manager client SDK for Azure resources.</Description>
     <PackageTags>azure;management;resource</PackageTags>