diff --git a/CHANGELOG.md b/CHANGELOG.md
index 7c46046e7..da4c27079 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -3,6 +3,8 @@ Changelog
 
 ## [Unreleased]
 
+## [v2.0.0] 2026-03-06
+
 - Add support for [UEFI Secure Boot][secboot] via a dedicated [iPXE
   shim][ipxeshim].
 
@@ -104,6 +106,7 @@ Changelog
 
 
 [unreleased]: https://github.com/ipxe/ipxe/commits
+[v2.0.0]: https://github.com/ipxe/ipxe/releases/tag/v2.0.0
 [v1.21.1]: https://github.com/ipxe/ipxe/releases/tag/v1.21.1
 [v1.20.1]: https://github.com/ipxe/ipxe/releases/tag/v1.20.1
 [v1.0.0]: https://github.com/ipxe/ipxe/releases/tag/v1.0.0
diff --git a/src/Makefile b/src/Makefile
index 36684fd98..f4ca196d9 100644
--- a/src/Makefile
+++ b/src/Makefile
@@ -212,10 +212,10 @@ install :
 #
 # Version number calculations
 #
-VERSION_MAJOR	:= 1
-VERSION_MINOR	:= 21
-VERSION_PATCH	:= 1
-EXTRAVERSION	:= +
+VERSION_MAJOR	:= 2
+VERSION_MINOR	:= 0
+VERSION_PATCH	:= 0
+EXTRAVERSION	:=
 ifneq ($(wildcard ../.git/HEAD),)
 GITVERSION	:= $(shell cat ../.git/HEAD)
 ifeq ($(firstword $(GITVERSION)),ref:)