diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index 2514c0a34cf..b898c6b249d 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -3,7 +3,7 @@
   "keptn-cert-manager": "2.2.0",
   "runtimes/python-runtime": "1.0.5",
   "runtimes/deno-runtime": "2.0.4",
-  "lifecycle-operator": "1.0.0",
+  "lifecycle-operator": "2.0.0",
   "scheduler": "1.0.0",
   "metrics-operator": "1.0.1"
 }
diff --git a/lifecycle-operator/CHANGELOG.md b/lifecycle-operator/CHANGELOG.md
index 983e464a639..c83b0571acf 100644
--- a/lifecycle-operator/CHANGELOG.md
+++ b/lifecycle-operator/CHANGELOG.md
@@ -1,5 +1,31 @@
 # Changelog
 
+## [2.0.0](https://github.com/keptn/lifecycle-toolkit/compare/lifecycle-operator-v1.0.0...lifecycle-operator-v2.0.0) (2024-05-17)
+
+
+### Features
+
+* **helm-chart:** ability to set hostNetwork for lifecycle operator deployment ([#3500](https://github.com/keptn/lifecycle-toolkit/issues/3500)) ([c08bb07](https://github.com/keptn/lifecycle-toolkit/commit/c08bb07f9e59c6488062e76d09ff9dcff4311102))
+
+
+### Other
+
+* backport release helm chart versions ([#3460](https://github.com/keptn/lifecycle-toolkit/issues/3460)) ([95d6809](https://github.com/keptn/lifecycle-toolkit/commit/95d6809272eeb2b981b63f3718c4e799fc72b743))
+
+
+### Dependency Updates
+
+* update dependency kubernetes-sigs/controller-tools to v0.15.0 ([#3473](https://github.com/keptn/lifecycle-toolkit/issues/3473)) ([8987cd1](https://github.com/keptn/lifecycle-toolkit/commit/8987cd1773ba2e90e941e87caece0020b1100a18))
+* update golang docker tag to v1.21.10 ([#3508](https://github.com/keptn/lifecycle-toolkit/issues/3508)) ([ed3409f](https://github.com/keptn/lifecycle-toolkit/commit/ed3409f1fa0f309e1fb0b1d971ec56e0c8f854bb))
+* update module github.com/onsi/ginkgo/v2 to v2.17.2 ([#3489](https://github.com/keptn/lifecycle-toolkit/issues/3489)) ([4a7e9cf](https://github.com/keptn/lifecycle-toolkit/commit/4a7e9cf80e083e35b39da7e8204ff1cfb5d842ae))
+* update module github.com/onsi/ginkgo/v2 to v2.17.3 ([#3512](https://github.com/keptn/lifecycle-toolkit/issues/3512)) ([c0d2afe](https://github.com/keptn/lifecycle-toolkit/commit/c0d2afe9eda7d73654538cef636439fb5168beef))
+* update module github.com/onsi/gomega to v1.33.0 ([#3468](https://github.com/keptn/lifecycle-toolkit/issues/3468)) ([e8ddfde](https://github.com/keptn/lifecycle-toolkit/commit/e8ddfdecd1a5fef73013d968a0913ac4aa9d744f))
+* update module github.com/onsi/gomega to v1.33.1 ([#3495](https://github.com/keptn/lifecycle-toolkit/issues/3495)) ([80caa18](https://github.com/keptn/lifecycle-toolkit/commit/80caa185c2909089c746c392f32dda54edd42dc3))
+* update module github.com/prometheus/client_golang to v1.19.1 ([#3517](https://github.com/keptn/lifecycle-toolkit/issues/3517)) ([63c593e](https://github.com/keptn/lifecycle-toolkit/commit/63c593eb93d609475711888518d757b34a07a64b))
+* update module golang.org/x/exp to v0.0.0-20240506185415-9bf2ced13842 ([#3507](https://github.com/keptn/lifecycle-toolkit/issues/3507)) ([0d2f645](https://github.com/keptn/lifecycle-toolkit/commit/0d2f6459f366e191f4a2792d97496d1c1d7e3965))
+* update module google.golang.org/protobuf to v1.34.0 ([#3496](https://github.com/keptn/lifecycle-toolkit/issues/3496)) ([5862111](https://github.com/keptn/lifecycle-toolkit/commit/586211185649f9542dd7782d551d1ad04e3c809f))
+* update opentelemetry-go monorepo (minor) ([#3480](https://github.com/keptn/lifecycle-toolkit/issues/3480)) ([11fa477](https://github.com/keptn/lifecycle-toolkit/commit/11fa4771e478972f09a8c63eb240215dca23bcef))
+
 ## [1.0.0](https://github.com/keptn/lifecycle-toolkit/compare/lifecycle-operator-v0.9.2...lifecycle-operator-v1.0.0) (2024-04-24)
 
 
diff --git a/lifecycle-operator/Makefile b/lifecycle-operator/Makefile
index 273614e92b3..9b2b4801ae1 100644
--- a/lifecycle-operator/Makefile
+++ b/lifecycle-operator/Makefile
@@ -7,7 +7,7 @@ RELEASE_REGISTRY?=ghcr.io/keptn
 RELEASE_TIME=$(shell date +%Y%m%d%s)
 BUILD_TIME=$(shell date -u "+%F_%T")
 RELEASE_VERSION?=$(RELEASE_TIME)-v0.24.3#$(shell git describe --tags --match "v*")
-TAG?="v1.0.0" # x-release-please-version
+TAG?="v2.0.0" # x-release-please-version
 RELEASE_IMAGE:=lifecycle-operator:$(TAG)
 CHART_APPVERSION?=""
 
diff --git a/lifecycle-operator/chart/Chart.yaml b/lifecycle-operator/chart/Chart.yaml
index 7776d865c75..050c746fc82 100644
--- a/lifecycle-operator/chart/Chart.yaml
+++ b/lifecycle-operator/chart/Chart.yaml
@@ -28,8 +28,8 @@ annotations:
   artifacthub.io/operatorCapabilities: Full Lifecycle
 kubeVersion: '>= 1.24.0-0'
 type: application
-version: 0.3.0
-appVersion: v1.0.0 # x-release-please-version
+version: 2.0.0
+appVersion: v1.0.0
 dependencies:
   - name: common
     repository: https://charts.lifecycle.keptn.sh
diff --git a/lifecycle-operator/chart/values.yaml b/lifecycle-operator/chart/values.yaml
index 84afd283f2e..a1de1018d07 100644
--- a/lifecycle-operator/chart/values.yaml
+++ b/lifecycle-operator/chart/values.yaml
@@ -109,7 +109,7 @@ lifecycleOperator:
 ## @param   lifecycleOperator.image.repository specify registry for manager image
     repository: keptn/lifecycle-operator
 ## @param   lifecycleOperator.image.tag  select tag for manager image
-    tag: v1.0.0 # x-release-please-version
+    tag: v2.0.0 # x-release-please-version
 ## @param   lifecycleOperator.image.imagePullPolicy specify pull policy for the manager image. This overrides global values
     imagePullPolicy: ""
 ## @extra  lifecycleOperator.livenessProbe custom liveness probe for manager container