diff --git a/CHANGELOG.md b/CHANGELOG.md
index 1089d0116..2eff88146 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,13 @@
 
 
 
+## v2.50.3 (2023-11-24)
+
+### Fix
+
+* fix: update vmaas-lib ([`4ea8559`](https://github.com/RedHatInsights/vmaas/commit/4ea855902e2bfa735b2d9d686437023d21d31e4e))
+
+
 ## v2.50.2 (2023-11-23)
 
 ### Chore
diff --git a/vmaas/common/constants.py b/vmaas/common/constants.py
index f6aada929..fe4a64002 100644
--- a/vmaas/common/constants.py
+++ b/vmaas/common/constants.py
@@ -2,4 +2,4 @@
 Common constants declaration module.
 """
 
-VMAAS_VERSION = "2.50.2"
+VMAAS_VERSION = "2.50.3"