diff --git a/setup.py b/setup.py
index 3421f06b2d..8db1319a3c 100755
--- a/setup.py
+++ b/setup.py
@@ -17,9 +17,11 @@ if '--disable-hidapi' in sys.argv:
 else:
     install_requires.append('hidapi>=0.7.99.post20')
 
+from trezorlib.version import VERSION
+
 setup(
     name='trezor',
-    version='0.8.0a0',
+    version=VERSION,
     author='TREZOR',
     author_email='info@trezor.io',
     description='Python library for communicating with TREZOR Hardware Wallet',
@@ -45,6 +47,7 @@ setup(
         'trezorlib.transport_udp',
         'trezorlib.tx_api',
         'trezorlib.types_pb2',
+        'trezorlib.version',
     ],
     scripts=['trezorctl'],
     install_requires=install_requires,
diff --git a/trezorctl b/trezorctl
index 1d52b54397..1428d8f18f 100755
--- a/trezorctl
+++ b/trezorctl
@@ -114,6 +114,13 @@ def ls(transport_name):
     return devices
 
 
+@cli.command(name='version', help='Show version of trezorctl/trezorlib.')
+@click.pass_obj
+def version(_):
+    from trezorlib.version import VERSION
+    return VERSION
+
+
 #
 # Basic device functions
 #
diff --git a/trezorlib/version.py b/trezorlib/version.py
new file mode 100644
index 0000000000..b377742a76
--- /dev/null
+++ b/trezorlib/version.py
@@ -0,0 +1 @@
+VERSION = '0.8.0a1'