diff --git a/sdk/eventgrid/Azure.Messaging.EventGrid/CHANGELOG.md b/sdk/eventgrid/Azure.Messaging.EventGrid/CHANGELOG.md
index fa5086295f31..d783b14960f9 100644
--- a/sdk/eventgrid/Azure.Messaging.EventGrid/CHANGELOG.md
+++ b/sdk/eventgrid/Azure.Messaging.EventGrid/CHANGELOG.md
@@ -1,5 +1,15 @@
 # Release History
 
+## 4.23.0-beta.1 (Unreleased)
+
+### Features Added
+
+### Breaking Changes
+
+### Bugs Fixed
+
+### Other Changes
+
 ## 4.22.0 (2024-02-12)
 
 ### Features Added
diff --git a/sdk/eventgrid/Azure.Messaging.EventGrid/src/Azure.Messaging.EventGrid.csproj b/sdk/eventgrid/Azure.Messaging.EventGrid/src/Azure.Messaging.EventGrid.csproj
index 27bee600d7a4..4753f6734095 100644
--- a/sdk/eventgrid/Azure.Messaging.EventGrid/src/Azure.Messaging.EventGrid.csproj
+++ b/sdk/eventgrid/Azure.Messaging.EventGrid/src/Azure.Messaging.EventGrid.csproj
@@ -2,9 +2,9 @@
   <PropertyGroup>
     <Description>This library can be used to publish events to Azure Event Grid and to consume events delivered by EventGrid. It also defines the event schemas for the events published to EventGrid by various Azure services.</Description>
     <AssemblyTitle>Microsoft Azure.Messaging.EventGrid client library</AssemblyTitle>
-    <Version>4.22.0</Version>
+    <Version>4.23.0-beta.1</Version>
     <!--The ApiCompatVersion is managed automatically and should not generally be modified manually.-->
-    <ApiCompatVersion>4.21.0</ApiCompatVersion>
+    <ApiCompatVersion>4.22.0</ApiCompatVersion>
     <PackageTags>Microsoft Azure EventGrid;Event Grid;Event Grid Publishing;</PackageTags>
     <DisableEnhancedAnalysis>true</DisableEnhancedAnalysis>
     <TargetFrameworks>$(RequiredTargetFrameworks)</TargetFrameworks>