diff --git a/sdk/eventgrid/Azure.Messaging.EventGrid/CHANGELOG.md b/sdk/eventgrid/Azure.Messaging.EventGrid/CHANGELOG.md
index 17ae662b76020..0e25493cc6a6c 100644
--- a/sdk/eventgrid/Azure.Messaging.EventGrid/CHANGELOG.md
+++ b/sdk/eventgrid/Azure.Messaging.EventGrid/CHANGELOG.md
@@ -1,5 +1,15 @@
 # Release History
 
+## 4.21.0-beta.1 (Unreleased)
+
+### Features Added
+
+### Breaking Changes
+
+### Bugs Fixed
+
+### Other Changes
+
 ## 4.20.0 (2023-10-18)
 
 ### Bugs Fixed
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 ef8b568d99e36..e24d258312f3c 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>4.20.0</Version>
+    <Version>4.21.0-beta.1</Version>
     <!--The ApiCompatVersion is managed automatically and should not generally be modified manually.-->
-    <ApiCompatVersion>4.19.0</ApiCompatVersion>
+    <ApiCompatVersion>4.20.0</ApiCompatVersion>
     <PackageTags>Microsoft Azure EventGrid;Event Grid;Event Grid Publishing;</PackageTags>
     <TargetFrameworks>$(RequiredTargetFrameworks)</TargetFrameworks>
     <IncludeOperationsSharedSource>true</IncludeOperationsSharedSource>