diff --git a/package-lock.json b/package-lock.json
index e001c51ee220..cfccb197a736 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -1,12 +1,12 @@
 {
     "name": "python",
-    "version": "2023.15.0-dev",
+    "version": "2023.16.0-rc",
     "lockfileVersion": 2,
     "requires": true,
     "packages": {
         "": {
             "name": "python",
-            "version": "2023.15.0-dev",
+            "version": "2023.16.0-rc",
             "license": "MIT",
             "dependencies": {
                 "@iarna/toml": "^2.2.5",
@@ -128,7 +128,7 @@
                 "yargs": "^15.3.1"
             },
             "engines": {
-                "vscode": "^1.82.0-20230823"
+                "vscode": "^1.82.0-20230830"
             }
         },
         "node_modules/@aashutoshrathi/word-wrap": {
diff --git a/package.json b/package.json
index e1ceb89d587d..f915aad147a4 100644
--- a/package.json
+++ b/package.json
@@ -2,7 +2,7 @@
     "name": "python",
     "displayName": "Python",
     "description": "IntelliSense (Pylance), Linting, Debugging (multi-threaded, remote), code formatting, refactoring, unit tests, and more.",
-    "version": "2023.15.0-dev",
+    "version": "2023.16.0-rc",
     "featureFlags": {
         "usingNewInterpreterStorage": true
     },