diff --git a/CMakeLists.txt b/CMakeLists.txt
index 832af866..ca7d6950 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -88,17 +88,12 @@ else()
   set(TAGLIB_LIB_VERSION_STRING "${TAGLIB_LIB_MAJOR_VERSION}.${TAGLIB_LIB_MINOR_VERSION}.${TAGLIB_LIB_PATCH_VERSION}")
 endif()
 
-# 1. If the library source code has changed at all since the last update, then increment revision.
-# 2. If any interfaces have been added, removed, or changed since the last update, increment current, and set revision to 0.
-# 3. If any interfaces have been added since the last public release, then increment age.
-# 4. If any interfaces have been removed since the last public release, then set age to 0.
-set(TAGLIB_SOVERSION_CURRENT  20)
-set(TAGLIB_SOVERSION_REVISION 1)
-set(TAGLIB_SOVERSION_AGE      19)
-
-math(EXPR TAGLIB_SOVERSION_MAJOR "${TAGLIB_SOVERSION_CURRENT} - ${TAGLIB_SOVERSION_AGE}")
-math(EXPR TAGLIB_SOVERSION_MINOR "${TAGLIB_SOVERSION_AGE}")
-math(EXPR TAGLIB_SOVERSION_PATCH "${TAGLIB_SOVERSION_REVISION}")
+# Major version: increase it if you break ABI compatibility.
+# Minor version: increase it if you add ABI compatible features.
+# Patch version: increase it for bug fix releases.
+set(TAGLIB_SOVERSION_MAJOR 2)
+set(TAGLIB_SOVERSION_MINOR 0)
+set(TAGLIB_SOVERSION_PATCH 0)
 
 include(ConfigureChecks.cmake)
 
diff --git a/NEWS b/NEWS
index 62710213..6ba325fe 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,9 @@
+TagLib 2.0 (Jan 24, 2024)
+=========================
+
+ * New major version, binary incompatible, but source-compatible with the
+   latest 1.x release if no deprecated features are used.
+
 TagLib 1.13.1 (Jul 1, 2023)
 ===========================
 
diff --git a/taglib/toolkit/taglib.h b/taglib/toolkit/taglib.h
index b754b263..1d13fc21 100644
--- a/taglib/toolkit/taglib.h
+++ b/taglib/toolkit/taglib.h
@@ -28,9 +28,9 @@
 
 #include "taglib_config.h"
 
-#define TAGLIB_MAJOR_VERSION 1
-#define TAGLIB_MINOR_VERSION 13
-#define TAGLIB_PATCH_VERSION 1
+#define TAGLIB_MAJOR_VERSION 2
+#define TAGLIB_MINOR_VERSION 0
+#define TAGLIB_PATCH_VERSION 0
 
 #if defined(__GNUC__) && (__GNUC__ > 4 || (__GNUC__ == 4 && __GNUC_MINOR__ > 1)) || defined(__clang__)
 #define TAGLIB_IGNORE_MISSING_DESTRUCTOR _Pragma("GCC diagnostic ignored \"-Wnon-virtual-dtor\"")