diff --git a/CHANGELOG.md b/CHANGELOG.md
index 6071169920a..ab5fb924d0c 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,41 @@
 # Changelog
 
+## [2.0.0-rc.1](https://github.com/kubeflow/pipelines/compare/2.0.0-beta.2...2.0.0-rc.1) (2023-05-12)
+
+
+### Features
+
+* **components:** Fix batch prediction job proto bigquery payload sanitization ([a7b8fd0](https://github.com/kubeflow/pipelines/commit/a7b8fd0d53d4bd164dedf0e4321a91e5bc250793))
+* **components:** SageMaker V2 model monitor component and testing ([\#9253](https://github.com/kubeflow/pipelines/issues/9253)) ([07e67bb](https://github.com/kubeflow/pipelines/commit/07e67bb0ca08c21bd611515b8e153bf203851637))
+* **components:** SageMaker V2 model monitor component release ([\#9368](https://github.com/kubeflow/pipelines/issues/9368)) ([29444f9](https://github.com/kubeflow/pipelines/commit/29444f905ce43582a314a49d2d1aa80ff6d1a882))
+* **sdk:** support writing `TASK_FINAL_STATUS` parameter type ([\#9080](https://github.com/kubeflow/pipelines/issues/9080)) ([c01288d](https://github.com/kubeflow/pipelines/commit/c01288d673124d4caf118cfc4dbd6d9f4734b847))
+
+
+### Bug Fixes
+
+* **backend:** Add pipeline spec name validation and relax display name validation ([\#9374](https://github.com/kubeflow/pipelines/issues/9374)) ([9ec4dc7](https://github.com/kubeflow/pipelines/commit/9ec4dc7f30c27ce3bf0f9832489a0936d2877432))
+* **backend:** added rbac group to commands to create pipeline/run. Fixes [\#8854](https://github.com/kubeflow/pipelines/issues/8854) ([\#9365](https://github.com/kubeflow/pipelines/issues/9365)) ([c17b681](https://github.com/kubeflow/pipelines/commit/c17b6815cd2d21d98c16f864e648e65cee9f0d13))
+* **backend:** change format of some backend error message ([\#9304](https://github.com/kubeflow/pipelines/issues/9304)) ([4f4f2cb](https://github.com/kubeflow/pipelines/commit/4f4f2cbb5518eb362a524763d38ac1efdcd50a07))
+* **backend:** Fix authorization logic and remove redundant DB calls ([\#9373](https://github.com/kubeflow/pipelines/issues/9373)) ([09c0b92](https://github.com/kubeflow/pipelines/commit/09c0b9277126651ed53b5d2a2fab21141fab95fd))
+* **backend:** prepublish execution in the driver for create/delete pvc ([\#9397](https://github.com/kubeflow/pipelines/issues/9397)) ([73f5f1b](https://github.com/kubeflow/pipelines/commit/73f5f1b3caae258760d9bc185302cfcd1a8a16cc))
+* **components:** Fix Model Garden Publisher model names in GetVertexModel component ([2bc30e9](https://github.com/kubeflow/pipelines/commit/2bc30e9669767a491351a76818cb83720eb24390))
+* **components:** fix sklearn component discovery ([0318caa](https://github.com/kubeflow/pipelines/commit/0318caa91dff53af902875771b7182c9cf63168b))
+* **components:** Move Feature Extractor and Error Analysis Annotation components  from experimental folder to google folder in GCPC ([a2d1f89](https://github.com/kubeflow/pipelines/commit/a2d1f89aa1274b6b57770151043bbf6794f74a84))
+* **frontend:** Change the empty message of archived experiment list. ([\#9381](https://github.com/kubeflow/pipelines/issues/9381)) ([501589f](https://github.com/kubeflow/pipelines/commit/501589fea3406e5bc7f9bf4c1de41c0691af7396))
+* **frontend:** Filter of pipeline selector in create new run page is broken. ([\#9401](https://github.com/kubeflow/pipelines/issues/9401)) ([62e5895](https://github.com/kubeflow/pipelines/commit/62e58953a32f06ff7b9023b2fde2c1cc0c38a225))
+* **frontend:** Make the hover text for "Archive" button more informative ([\#9382](https://github.com/kubeflow/pipelines/issues/9382)) ([24a7fdd](https://github.com/kubeflow/pipelines/commit/24a7fdd90ea7e4246be301749187e5484e8ddd2e))
+* **frontend:** Momentary "No graph to show" when pipeline/graph is loading. ([\#9399](https://github.com/kubeflow/pipelines/issues/9399)) ([ec2a6fb](https://github.com/kubeflow/pipelines/commit/ec2a6fbfdc5ebd681ffa877b79b4502c01bc7415))
+* **frontend:** No values in "Finished at" & "Duration" when run is finished ([\#9379](https://github.com/kubeflow/pipelines/issues/9379)) ([47fc33b](https://github.com/kubeflow/pipelines/commit/47fc33bd29c220c9d34b195c92cb147a5296f83f))
+* **frontend:** Remove redundant "(optional)" text in the optional input fields. ([\#9380](https://github.com/kubeflow/pipelines/issues/9380)) ([c1958d9](https://github.com/kubeflow/pipelines/commit/c1958d9ff020fa70a58c1664eed47b16329fdae4))
+* **frontend:** Rename button in pipeline/run details side panel ([\#9383](https://github.com/kubeflow/pipelines/issues/9383)) ([e2129da](https://github.com/kubeflow/pipelines/commit/e2129da0a590692402964657c630dfce966e4e78))
+* **frontend:** Show summary button and summary card in pipeline details is disappeared. ([\#9404](https://github.com/kubeflow/pipelines/issues/9404)) ([260e5eb](https://github.com/kubeflow/pipelines/commit/260e5ebe502b0ceb594bb9f3c36183c1b33d7ddb))
+* **sdk:** fix compilation of boolean constant passed to component ([\#9390](https://github.com/kubeflow/pipelines/issues/9390)) ([96947e6](https://github.com/kubeflow/pipelines/commit/96947e6fb971178e5a67b407b0d0ecb7192db9d4))
+
+
+### Other Pull Requests
+
+* fix(frontend) Format container information in pipeline details side panel ([\#9387](https://github.com/kubeflow/pipelines/issues/9387)) ([66ff81e](https://github.com/kubeflow/pipelines/commit/66ff81e5f2064c5b07770b1dc09e345d5bdf0e68))
+
 ## [2.0.0-beta.2](https://github.com/kubeflow/pipelines/compare/2.0.0-beta.1...2.0.0-beta.2) (2023-05-08)
 
 
diff --git a/VERSION b/VERSION
index a081577b084..d0c10bc487c 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-2.0.0-beta.2
\ No newline at end of file
+2.0.0-rc.1
\ No newline at end of file
diff --git a/backend/api/v1beta1/python_http_client/README.md b/backend/api/v1beta1/python_http_client/README.md
index 597198e09ba..4cb123897b5 100644
--- a/backend/api/v1beta1/python_http_client/README.md
+++ b/backend/api/v1beta1/python_http_client/README.md
@@ -3,8 +3,8 @@ This file contains REST API specification for Kubeflow Pipelines. The file is au
 
 This Python package is automatically generated by the [OpenAPI Generator](https://openapi-generator.tech) project:
 
-- API version: 2.0.0-beta.2
-- Package version: 2.0.0-beta.2
+- API version: 2.0.0-rc.1
+- Package version: 2.0.0-rc.1
 - Build package: org.openapitools.codegen.languages.PythonClientCodegen
 For more information, please visit [https://www.google.com](https://www.google.com)
 
diff --git a/backend/api/v1beta1/python_http_client/kfp_server_api/__init__.py b/backend/api/v1beta1/python_http_client/kfp_server_api/__init__.py
index 56931835040..5e50568552b 100644
--- a/backend/api/v1beta1/python_http_client/kfp_server_api/__init__.py
+++ b/backend/api/v1beta1/python_http_client/kfp_server_api/__init__.py
@@ -14,7 +14,7 @@
 
 from __future__ import absolute_import
 
-__version__ = "2.0.0-beta.2"
+__version__ = "2.0.0-rc.1"
 
 # import apis into sdk package
 from kfp_server_api.api.experiment_service_api import ExperimentServiceApi
diff --git a/backend/api/v1beta1/python_http_client/kfp_server_api/api_client.py b/backend/api/v1beta1/python_http_client/kfp_server_api/api_client.py
index cea21f922ed..7cbffc93cb8 100644
--- a/backend/api/v1beta1/python_http_client/kfp_server_api/api_client.py
+++ b/backend/api/v1beta1/python_http_client/kfp_server_api/api_client.py
@@ -78,7 +78,7 @@ def __init__(self, configuration=None, header_name=None, header_value=None,
             self.default_headers[header_name] = header_value
         self.cookie = cookie
         # Set default User-Agent.
-        self.user_agent = 'OpenAPI-Generator/2.0.0-beta.2/python'
+        self.user_agent = 'OpenAPI-Generator/2.0.0-rc.1/python'
         self.client_side_validation = configuration.client_side_validation
 
     def __enter__(self):
diff --git a/backend/api/v1beta1/python_http_client/kfp_server_api/configuration.py b/backend/api/v1beta1/python_http_client/kfp_server_api/configuration.py
index f1a968b02f5..dadb1fb101f 100644
--- a/backend/api/v1beta1/python_http_client/kfp_server_api/configuration.py
+++ b/backend/api/v1beta1/python_http_client/kfp_server_api/configuration.py
@@ -351,8 +351,8 @@ def to_debug_report(self):
         return "Python SDK Debug Report:\n"\
                "OS: {env}\n"\
                "Python Version: {pyversion}\n"\
-               "Version of the API: 2.0.0-beta.2\n"\
-               "SDK Package Version: 2.0.0-beta.2".\
+               "Version of the API: 2.0.0-rc.1\n"\
+               "SDK Package Version: 2.0.0-rc.1".\
                format(env=sys.platform, pyversion=sys.version)
 
     def get_host_settings(self):
diff --git a/backend/api/v1beta1/python_http_client/setup.py b/backend/api/v1beta1/python_http_client/setup.py
index d5c4e9d8479..6c71b477e7e 100644
--- a/backend/api/v1beta1/python_http_client/setup.py
+++ b/backend/api/v1beta1/python_http_client/setup.py
@@ -13,7 +13,7 @@
 from setuptools import setup, find_packages  # noqa: H301
 
 NAME = "kfp-server-api"
-VERSION = "2.0.0-beta.2"
+VERSION = "2.0.0-rc.1"
 # To install the library, run the following
 #
 # python setup.py install
diff --git a/backend/api/v1beta1/swagger/kfp_api_single_file.swagger.json b/backend/api/v1beta1/swagger/kfp_api_single_file.swagger.json
index c747917e42c..44d1ab6cb09 100644
--- a/backend/api/v1beta1/swagger/kfp_api_single_file.swagger.json
+++ b/backend/api/v1beta1/swagger/kfp_api_single_file.swagger.json
@@ -2,7 +2,7 @@
   "swagger": "2.0",
   "info": {
     "title": "Kubeflow Pipelines API",
-    "version": "2.0.0-beta.2",
+    "version": "2.0.0-rc.1",
     "description": "This file contains REST API specification for Kubeflow Pipelines. The file is autogenerated from the swagger definition.",
     "contact": {
       "name": "google",
diff --git a/backend/api/v2beta1/python_http_client/README.md b/backend/api/v2beta1/python_http_client/README.md
index 8102d3f18c1..02b4bad11fe 100644
--- a/backend/api/v2beta1/python_http_client/README.md
+++ b/backend/api/v2beta1/python_http_client/README.md
@@ -3,8 +3,8 @@ This file contains REST API specification for Kubeflow Pipelines. The file is au
 
 This Python package is automatically generated by the [OpenAPI Generator](https://openapi-generator.tech) project:
 
-- API version: 2.0.0-beta.2
-- Package version: 2.0.0-beta.2
+- API version: 2.0.0-rc.1
+- Package version: 2.0.0-rc.1
 - Build package: org.openapitools.codegen.languages.PythonClientCodegen
 For more information, please visit [https://www.google.com](https://www.google.com)
 
diff --git a/backend/api/v2beta1/python_http_client/kfp_server_api/__init__.py b/backend/api/v2beta1/python_http_client/kfp_server_api/__init__.py
index eb729a20de3..60014414194 100644
--- a/backend/api/v2beta1/python_http_client/kfp_server_api/__init__.py
+++ b/backend/api/v2beta1/python_http_client/kfp_server_api/__init__.py
@@ -14,7 +14,7 @@
 
 from __future__ import absolute_import
 
-__version__ = "2.0.0-beta.2"
+__version__ = "2.0.0-rc.1"
 
 # import apis into sdk package
 from kfp_server_api.api.auth_service_api import AuthServiceApi
diff --git a/backend/api/v2beta1/python_http_client/kfp_server_api/api_client.py b/backend/api/v2beta1/python_http_client/kfp_server_api/api_client.py
index cea21f922ed..7cbffc93cb8 100644
--- a/backend/api/v2beta1/python_http_client/kfp_server_api/api_client.py
+++ b/backend/api/v2beta1/python_http_client/kfp_server_api/api_client.py
@@ -78,7 +78,7 @@ def __init__(self, configuration=None, header_name=None, header_value=None,
             self.default_headers[header_name] = header_value
         self.cookie = cookie
         # Set default User-Agent.
-        self.user_agent = 'OpenAPI-Generator/2.0.0-beta.2/python'
+        self.user_agent = 'OpenAPI-Generator/2.0.0-rc.1/python'
         self.client_side_validation = configuration.client_side_validation
 
     def __enter__(self):
diff --git a/backend/api/v2beta1/python_http_client/kfp_server_api/configuration.py b/backend/api/v2beta1/python_http_client/kfp_server_api/configuration.py
index f1a968b02f5..dadb1fb101f 100644
--- a/backend/api/v2beta1/python_http_client/kfp_server_api/configuration.py
+++ b/backend/api/v2beta1/python_http_client/kfp_server_api/configuration.py
@@ -351,8 +351,8 @@ def to_debug_report(self):
         return "Python SDK Debug Report:\n"\
                "OS: {env}\n"\
                "Python Version: {pyversion}\n"\
-               "Version of the API: 2.0.0-beta.2\n"\
-               "SDK Package Version: 2.0.0-beta.2".\
+               "Version of the API: 2.0.0-rc.1\n"\
+               "SDK Package Version: 2.0.0-rc.1".\
                format(env=sys.platform, pyversion=sys.version)
 
     def get_host_settings(self):
diff --git a/backend/api/v2beta1/python_http_client/setup.py b/backend/api/v2beta1/python_http_client/setup.py
index d5c4e9d8479..6c71b477e7e 100644
--- a/backend/api/v2beta1/python_http_client/setup.py
+++ b/backend/api/v2beta1/python_http_client/setup.py
@@ -13,7 +13,7 @@
 from setuptools import setup, find_packages  # noqa: H301
 
 NAME = "kfp-server-api"
-VERSION = "2.0.0-beta.2"
+VERSION = "2.0.0-rc.1"
 # To install the library, run the following
 #
 # python setup.py install
diff --git a/backend/api/v2beta1/swagger/kfp_api_single_file.swagger.json b/backend/api/v2beta1/swagger/kfp_api_single_file.swagger.json
index bbbec92a4a8..ef6999f55fe 100644
--- a/backend/api/v2beta1/swagger/kfp_api_single_file.swagger.json
+++ b/backend/api/v2beta1/swagger/kfp_api_single_file.swagger.json
@@ -2,7 +2,7 @@
   "swagger": "2.0",
   "info": {
     "title": "Kubeflow Pipelines API",
-    "version": "2.0.0-beta.2",
+    "version": "2.0.0-rc.1",
     "description": "This file contains REST API specification for Kubeflow Pipelines. The file is autogenerated from the swagger definition.",
     "contact": {
       "name": "google",
diff --git a/manifests/gcp_marketplace/chart/kubeflow-pipelines/templates/application.yaml b/manifests/gcp_marketplace/chart/kubeflow-pipelines/templates/application.yaml
index 2d8181025b9..4a98b37117c 100644
--- a/manifests/gcp_marketplace/chart/kubeflow-pipelines/templates/application.yaml
+++ b/manifests/gcp_marketplace/chart/kubeflow-pipelines/templates/application.yaml
@@ -12,7 +12,7 @@ metadata:
 spec:
   descriptor:
     type: Kubeflow Pipelines
-    version: 2.0.0-beta.2
+    version: 2.0.0-rc.1
     description: |-
       Reusable end-to-end ML workflow
     maintainers:
diff --git a/manifests/gcp_marketplace/schema.yaml b/manifests/gcp_marketplace/schema.yaml
index 6f036c0cd26..9504bc466ff 100644
--- a/manifests/gcp_marketplace/schema.yaml
+++ b/manifests/gcp_marketplace/schema.yaml
@@ -1,9 +1,9 @@
 x-google-marketplace:
   schemaVersion: v2
   applicationApiVersion: v1beta1
-  publishedVersion: 2.0.0-beta.2
+  publishedVersion: 2.0.0-rc.1
   publishedVersionMetadata:
-    releaseNote: Based on 2.0.0-beta.2 version.
+    releaseNote: Based on 2.0.0-rc.1 version.
     releaseTypes:
       - Feature
     recommended: false
diff --git a/manifests/kustomize/base/cache-deployer/kustomization.yaml b/manifests/kustomize/base/cache-deployer/kustomization.yaml
index 39a4ac36eb1..5bff3841c10 100644
--- a/manifests/kustomize/base/cache-deployer/kustomization.yaml
+++ b/manifests/kustomize/base/cache-deployer/kustomization.yaml
@@ -8,4 +8,4 @@ commonLabels:
   app: cache-deployer
 images:
   - name: gcr.io/ml-pipeline/cache-deployer
-    newTag: 2.0.0-beta.2
+    newTag: 2.0.0-rc.1
diff --git a/manifests/kustomize/base/cache/kustomization.yaml b/manifests/kustomize/base/cache/kustomization.yaml
index bf54439ebf0..be56e1d7703 100644
--- a/manifests/kustomize/base/cache/kustomization.yaml
+++ b/manifests/kustomize/base/cache/kustomization.yaml
@@ -10,4 +10,4 @@ commonLabels:
   app: cache-server
 images:
   - name: gcr.io/ml-pipeline/cache-server
-    newTag: 2.0.0-beta.2
+    newTag: 2.0.0-rc.1
diff --git a/manifests/kustomize/base/installs/generic/pipeline-install-config.yaml b/manifests/kustomize/base/installs/generic/pipeline-install-config.yaml
index 989f1798c97..95c8e814b46 100644
--- a/manifests/kustomize/base/installs/generic/pipeline-install-config.yaml
+++ b/manifests/kustomize/base/installs/generic/pipeline-install-config.yaml
@@ -11,7 +11,7 @@ data:
     until the changes take effect. A quick way to restart all deployments in a
     namespace: `kubectl rollout restart deployment -n <your-namespace>`.
   appName: pipeline
-  appVersion: 2.0.0-beta.2
+  appVersion: 2.0.0-rc.1
   dbHost: mysql
   dbPort: "3306"
   mlmdDb: metadb
diff --git a/manifests/kustomize/base/metadata/base/kustomization.yaml b/manifests/kustomize/base/metadata/base/kustomization.yaml
index af23604fe8d..433f41e8bc0 100644
--- a/manifests/kustomize/base/metadata/base/kustomization.yaml
+++ b/manifests/kustomize/base/metadata/base/kustomization.yaml
@@ -9,4 +9,4 @@ resources:
   - metadata-grpc-sa.yaml
 images:
   - name: gcr.io/ml-pipeline/metadata-envoy
-    newTag: 2.0.0-beta.2
+    newTag: 2.0.0-rc.1
diff --git a/manifests/kustomize/base/pipeline/kustomization.yaml b/manifests/kustomize/base/pipeline/kustomization.yaml
index b61b0117964..6ec217dc925 100644
--- a/manifests/kustomize/base/pipeline/kustomization.yaml
+++ b/manifests/kustomize/base/pipeline/kustomization.yaml
@@ -37,14 +37,14 @@ resources:
   - kfp-launcher-configmap.yaml
 images:
   - name: gcr.io/ml-pipeline/api-server
-    newTag: 2.0.0-beta.2
+    newTag: 2.0.0-rc.1
   - name: gcr.io/ml-pipeline/persistenceagent
-    newTag: 2.0.0-beta.2
+    newTag: 2.0.0-rc.1
   - name: gcr.io/ml-pipeline/scheduledworkflow
-    newTag: 2.0.0-beta.2
+    newTag: 2.0.0-rc.1
   - name: gcr.io/ml-pipeline/frontend
-    newTag: 2.0.0-beta.2
+    newTag: 2.0.0-rc.1
   - name: gcr.io/ml-pipeline/viewer-crd-controller
-    newTag: 2.0.0-beta.2
+    newTag: 2.0.0-rc.1
   - name: gcr.io/ml-pipeline/visualization-server
-    newTag: 2.0.0-beta.2
+    newTag: 2.0.0-rc.1
diff --git a/manifests/kustomize/base/pipeline/metadata-writer/kustomization.yaml b/manifests/kustomize/base/pipeline/metadata-writer/kustomization.yaml
index e7d925c77aa..683b8881fcf 100644
--- a/manifests/kustomize/base/pipeline/metadata-writer/kustomization.yaml
+++ b/manifests/kustomize/base/pipeline/metadata-writer/kustomization.yaml
@@ -7,4 +7,4 @@ resources:
   - metadata-writer-sa.yaml
 images:
   - name: gcr.io/ml-pipeline/metadata-writer
-    newTag: 2.0.0-beta.2
+    newTag: 2.0.0-rc.1
diff --git a/manifests/kustomize/env/gcp/inverse-proxy/kustomization.yaml b/manifests/kustomize/env/gcp/inverse-proxy/kustomization.yaml
index 009a985328a..2d20fecd8e3 100644
--- a/manifests/kustomize/env/gcp/inverse-proxy/kustomization.yaml
+++ b/manifests/kustomize/env/gcp/inverse-proxy/kustomization.yaml
@@ -2,7 +2,7 @@ apiVersion: kustomize.config.k8s.io/v1beta1
 kind: Kustomization
 images:
   - name: gcr.io/ml-pipeline/inverse-proxy-agent
-    newTag: 2.0.0-beta.2
+    newTag: 2.0.0-rc.1
 resources:
   - proxy-configmap.yaml
   - proxy-deployment.yaml