diff --git a/package-lock.json b/package-lock.json
index 172505674beb..871489b89077 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -1,12 +1,12 @@
 {
     "name": "python",
-    "version": "2024.1.0-dev",
+    "version": "2024.2.0-rc",
     "lockfileVersion": 2,
     "requires": true,
     "packages": {
         "": {
             "name": "python",
-            "version": "2024.1.0-dev",
+            "version": "2024.2.0-rc",
             "license": "MIT",
             "dependencies": {
                 "@iarna/toml": "^2.2.5",
diff --git a/package.json b/package.json
index efe8cba4f5d6..02339c7e00f2 100644
--- a/package.json
+++ b/package.json
@@ -2,7 +2,7 @@
     "name": "python",
     "displayName": "Python",
     "description": "IntelliSense (Pylance), Linting, Debugging (Python Debugger), code formatting, refactoring, unit tests, and more.",
-    "version": "2024.1.0-dev",
+    "version": "2024.2.0-rc",
     "featureFlags": {
         "usingNewInterpreterStorage": true
     },
diff --git a/pythonFiles/install_debugpy.py b/pythonFiles/install_debugpy.py
index 9377d00237d7..c217e81fd219 100644
--- a/pythonFiles/install_debugpy.py
+++ b/pythonFiles/install_debugpy.py
@@ -13,7 +13,7 @@
 DEBUGGER_DEST = os.path.join(EXTENSION_ROOT, "pythonFiles", "lib", "python")
 DEBUGGER_PACKAGE = "debugpy"
 DEBUGGER_PYTHON_ABI_VERSIONS = ("cp310",)
-DEBUGGER_VERSION = "1.8.0"  # can also be "latest"
+DEBUGGER_VERSION = "1.8.1"  # can also be "latest"
 
 
 def _contains(s, parts=()):