diff --git a/README.md b/README.md
index 2b2b9f4f0..50228b780 100644
--- a/README.md
+++ b/README.md
@@ -12,11 +12,11 @@ CodeFlare Stack Compatibility Matrix
 
 | Component                    | Version                                                                                           |
 |------------------------------|---------------------------------------------------------------------------------------------------|
-| CodeFlare Operator           | [v1.15.0](https://github.com/project-codeflare/codeflare-operator/releases/tag/v1.15.0)             |
-| CodeFlare-SDK                | [v0.28.1](https://github.com/project-codeflare/codeflare-sdk/releases/tag/v0.28.1)                |
+| CodeFlare Operator           | [v1.16.0](https://github.com/project-codeflare/codeflare-operator/releases/tag/v1.16.0)             |
+| CodeFlare-SDK                | [v0.29.0](https://github.com/project-codeflare/codeflare-sdk/releases/tag/v0.29.0)                |
 | AppWrapper                   | [v1.1.2](https://github.com/project-codeflare/appwrapper/releases/tag/v1.1.2)                   |
 | KubeRay                      | [v1.3.2](https://github.com/ray-project/kuberay/releases/tag/v1.3.2)                           |
-| Kueue                        | [v0.11.4](https://github.com/kubernetes-sigs/kueue/releases/tag/v0.11.4)                             |
+| Kueue                        | [v0.11.6](https://github.com/kubernetes-sigs/kueue/releases/tag/v0.11.6)                             |
 <!-- Compatibility Matrix end -->
 
 ## Development
diff --git a/config/manager/params.env b/config/manager/params.env
index 6d0c50b4e..05ddd6940 100644
--- a/config/manager/params.env
+++ b/config/manager/params.env
@@ -1,2 +1,2 @@
-codeflare-operator-controller-image=quay.io/opendatahub/codeflare-operator:v1.15.0
+codeflare-operator-controller-image=quay.io/opendatahub/codeflare-operator:v1.16.0
 namespace=opendatahub