diff --git a/MODULE.bazel b/MODULE.bazel
index 87aa5893a0..6adf045f6b 100644
--- a/MODULE.bazel
+++ b/MODULE.bazel
@@ -2,7 +2,7 @@
 
 module(
     name = "rules_rust",
-    version = "0.32.0",
+    version = "0.33.0",
 )
 
 print("WARNING: The rules_rust Bazel module is still highly experimental and subject to change at any time. Only use it to try out bzlmod for now.")  # buildifier: disable=print
diff --git a/version.bzl b/version.bzl
index f260bbbf76..deb5483aea 100644
--- a/version.bzl
+++ b/version.bzl
@@ -1,3 +1,3 @@
 """The version of rules_rust."""
 
-VERSION = "0.32.0"
+VERSION = "0.33.0"