diff --git a/sdk/monitor/azure-monitor-opentelemetry/CHANGELOG.md b/sdk/monitor/azure-monitor-opentelemetry/CHANGELOG.md
index f065dbcbd772..9fe6c8552a3c 100644
--- a/sdk/monitor/azure-monitor-opentelemetry/CHANGELOG.md
+++ b/sdk/monitor/azure-monitor-opentelemetry/CHANGELOG.md
@@ -1,14 +1,12 @@
 # Release History
 
-## 1.2.1 (Unreleased)
+## 1.3.0 (2024-02-29)
 
 ### Features Added
 
 - Add custom span processors configuration option
     ([#34326](https://github.com/Azure/azure-sdk-for-python/pull/34326))
 
-### Bugs Fixed
-
 ### Other Changes
 
 - Update configure_azure_monitor signature and Django sample
diff --git a/sdk/monitor/azure-monitor-opentelemetry/azure/monitor/opentelemetry/_version.py b/sdk/monitor/azure-monitor-opentelemetry/azure/monitor/opentelemetry/_version.py
index c719acea2c1c..3087389088e6 100644
--- a/sdk/monitor/azure-monitor-opentelemetry/azure/monitor/opentelemetry/_version.py
+++ b/sdk/monitor/azure-monitor-opentelemetry/azure/monitor/opentelemetry/_version.py
@@ -4,4 +4,4 @@
 # license information.
 # --------------------------------------------------------------------------
 
-VERSION = "1.2.1"
+VERSION = "1.3.0"
diff --git a/sdk/monitor/azure-monitor-opentelemetry/setup.py b/sdk/monitor/azure-monitor-opentelemetry/setup.py
index 3b86ba574d88..099c2e028020 100644
--- a/sdk/monitor/azure-monitor-opentelemetry/setup.py
+++ b/sdk/monitor/azure-monitor-opentelemetry/setup.py
@@ -85,9 +85,9 @@
     },
     python_requires=">=3.8",
     install_requires=[
-        "azure-core<2.0.0,>=1.24.0",
-        "azure-core-tracing-opentelemetry~=1.0.0b10",
-        "azure-monitor-opentelemetry-exporter~=1.0.0b22",
+        "azure-core<2.0.0,>=1.28.0",
+        "azure-core-tracing-opentelemetry~=1.0.0b11",
+        "azure-monitor-opentelemetry-exporter~=1.0.0b23",
         "opentelemetry-instrumentation-django~=0.42b0",
         "opentelemetry-instrumentation-fastapi~=0.42b0",
         "opentelemetry-instrumentation-flask~=0.42b0",