diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4b261941b..8a07a72ab 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -3,6 +3,11 @@ All enhancements and patches to Cookiecutter Django will be documented in this f
 
 <!-- GENERATOR_PLACEHOLDER -->
 
+## 2022.03.03
+
+### Updated
+- Upgrade actions/setup-python to v3 ([#3621](https://github.com/cookiecutter/cookiecutter-django/pull/3621))
+
 ## 2022.03.02
 
 ### Updated
diff --git a/setup.py b/setup.py
index 760d24cb7..9d796de4f 100644
--- a/setup.py
+++ b/setup.py
@@ -5,7 +5,7 @@ except ImportError:
     from distutils.core import setup
 
 # We use calendar versioning
-version = "2022.03.02"
+version = "2022.03.03"
 
 with open("README.rst") as readme_file:
     long_description = readme_file.read()
diff --git a/{{cookiecutter.project_slug}}/.github/workflows/ci.yml b/{{cookiecutter.project_slug}}/.github/workflows/ci.yml
index 0ec9c7d34..8634cfd31 100644
--- a/{{cookiecutter.project_slug}}/.github/workflows/ci.yml
+++ b/{{cookiecutter.project_slug}}/.github/workflows/ci.yml
@@ -27,7 +27,7 @@ jobs:
         uses: actions/checkout@v3
 
       - name: Set up Python
-        uses: actions/setup-python@v2
+        uses: actions/setup-python@v3
         with:
           python-version: "3.9"
           cache: pip
@@ -101,7 +101,7 @@ jobs:
       {%- else %}
 
       - name: Set up Python
-        uses: actions/setup-python@v2
+        uses: actions/setup-python@v3
         with:
           python-version: "3.9"
           cache: pip