diff --git a/helm-chart/kuberay-apiserver/Chart.yaml b/helm-chart/kuberay-apiserver/Chart.yaml
index 46aa72f0e6..e960c48c26 100644
--- a/helm-chart/kuberay-apiserver/Chart.yaml
+++ b/helm-chart/kuberay-apiserver/Chart.yaml
@@ -15,4 +15,4 @@ type: application
 # This is the chart version. This version number should be incremented each time you make changes
 # to the chart and its templates, including the app version.
 # Versions are expected to follow Semantic Versioning (https://semver.org/)
-version: 1.2.0-rc.0
+version: 1.2.0-rc.1
diff --git a/helm-chart/kuberay-apiserver/values.yaml b/helm-chart/kuberay-apiserver/values.yaml
index 3a789b3b9c..d33e3883bb 100644
--- a/helm-chart/kuberay-apiserver/values.yaml
+++ b/helm-chart/kuberay-apiserver/values.yaml
@@ -7,7 +7,7 @@ replicaCount: 1
 name: "kuberay-apiserver"
 image:
   repository: quay.io/kuberay/apiserver
-  tag: v1.2.0-rc.0
+  tag: v1.2.0-rc.1
   pullPolicy: IfNotPresent
 
 ## Install Default RBAC roles and bindings
diff --git a/helm-chart/kuberay-operator/Chart.yaml b/helm-chart/kuberay-operator/Chart.yaml
index aacbd9bfa4..c0c1579da8 100644
--- a/helm-chart/kuberay-operator/Chart.yaml
+++ b/helm-chart/kuberay-operator/Chart.yaml
@@ -1,6 +1,6 @@
 apiVersion: v2
 description: A Helm chart for Kubernetes
 name: kuberay-operator
-version: 1.2.0-rc.0
+version: 1.2.0-rc.1
 icon: https://github.com/ray-project/ray/raw/master/doc/source/images/ray_header_logo.png
 type: application
diff --git a/helm-chart/kuberay-operator/values.yaml b/helm-chart/kuberay-operator/values.yaml
index 80a1149037..a49813dccd 100644
--- a/helm-chart/kuberay-operator/values.yaml
+++ b/helm-chart/kuberay-operator/values.yaml
@@ -4,7 +4,7 @@
 
 image:
   repository: quay.io/kuberay/operator
-  tag: v1.2.0-rc.0
+  tag: v1.2.0-rc.1
   pullPolicy: IfNotPresent
 
 nameOverride: "kuberay-operator"
diff --git a/helm-chart/ray-cluster/Chart.yaml b/helm-chart/ray-cluster/Chart.yaml
index 5c2976c98c..06d29a9fc3 100644
--- a/helm-chart/ray-cluster/Chart.yaml
+++ b/helm-chart/ray-cluster/Chart.yaml
@@ -1,5 +1,5 @@
 apiVersion: v1
 description: A Helm chart for Kubernetes
 name: ray-cluster
-version: 1.2.0-rc.0
+version: 1.2.0-rc.1
 icon: https://github.com/ray-project/ray/raw/master/doc/source/images/ray_header_logo.png
diff --git a/ray-operator/config/default/kustomization.yaml b/ray-operator/config/default/kustomization.yaml
index 89a0ed60ed..d153b59e0b 100644
--- a/ray-operator/config/default/kustomization.yaml
+++ b/ray-operator/config/default/kustomization.yaml
@@ -23,4 +23,4 @@ bases:
 images:
 - name: kuberay/operator
   newName: quay.io/kuberay/operator
-  newTag: v1.2.0-rc.0
+  newTag: v1.2.0-rc.1