diff --git a/SECURITY-INSIGHTS.yml b/SECURITY-INSIGHTS.yml
index 727fd2b184..157a02bfe6 100644
--- a/SECURITY-INSIGHTS.yml
+++ b/SECURITY-INSIGHTS.yml
@@ -3,9 +3,9 @@ header:
   expiration-date: '2024-10-31T00:00:00.000Z' # One year from initial release.
   last-updated: '2023-10-27'
   last-reviewed: '2023-10-27'
-  commit-hash: 814db444c36503851dc3d45cf9c44394821ca1a4
+  commit-hash: d91a2ab3bf1b1143fb273fa06f54073fc78f41f1
   project-url: https://github.com/argoproj/argo-cd
-  project-release: v3.4.0
+  project-release: v3.5.0
   changelog: https://github.com/argoproj/argo-cd/releases
   license: https://github.com/argoproj/argo-cd/blob/master/LICENSE
 project-lifecycle:
diff --git a/VERSION b/VERSION
index 18091983f5..1545d96657 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-3.4.0
+3.5.0