diff --git a/CHANGELOG.md b/CHANGELOG.md
index e4760ef9..c428ad6e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,10 @@
 - Added `scheme.enableGPUValidationMode` #1294 @LouisLWang
 - Added visionOS support #1379 @shiba1014
 
+### Changed
+
+- The project object version has been updated for Xcode 14.3 #1368 @leonardorock
+
 ### Fixed
 
 - Fix external dependencies from being removed by Xcode #1354 @OdNairy
diff --git a/Sources/XcodeGenKit/Version.swift b/Sources/XcodeGenKit/Version.swift
index fe1b24af..c36a3992 100644
--- a/Sources/XcodeGenKit/Version.swift
+++ b/Sources/XcodeGenKit/Version.swift
@@ -16,7 +16,7 @@ extension Project {
     }
 
     var objectVersion: UInt {
-        51
+        54
     }
 }
 
diff --git a/Tests/Fixtures/CarthageProject/Project.xcodeproj/project.pbxproj b/Tests/Fixtures/CarthageProject/Project.xcodeproj/project.pbxproj
index b99951bd..375205ca 100644
--- a/Tests/Fixtures/CarthageProject/Project.xcodeproj/project.pbxproj
+++ b/Tests/Fixtures/CarthageProject/Project.xcodeproj/project.pbxproj
@@ -3,7 +3,7 @@
 	archiveVersion = 1;
 	classes = {
 	};
-	objectVersion = 51;
+	objectVersion = 54;
 	objects = {
 
 /* Begin PBXBuildFile section */
diff --git a/Tests/Fixtures/SPM/SPM.xcodeproj/project.pbxproj b/Tests/Fixtures/SPM/SPM.xcodeproj/project.pbxproj
index 9efdbfe4..9e09f0f1 100644
--- a/Tests/Fixtures/SPM/SPM.xcodeproj/project.pbxproj
+++ b/Tests/Fixtures/SPM/SPM.xcodeproj/project.pbxproj
@@ -3,7 +3,7 @@
 	archiveVersion = 1;
 	classes = {
 	};
-	objectVersion = 51;
+	objectVersion = 54;
 	objects = {
 
 /* Begin PBXBuildFile section */
diff --git a/Tests/Fixtures/TestProject/AnotherProject/AnotherProject.xcodeproj/project.pbxproj b/Tests/Fixtures/TestProject/AnotherProject/AnotherProject.xcodeproj/project.pbxproj
index 6813fe75..28b0f31b 100644
--- a/Tests/Fixtures/TestProject/AnotherProject/AnotherProject.xcodeproj/project.pbxproj
+++ b/Tests/Fixtures/TestProject/AnotherProject/AnotherProject.xcodeproj/project.pbxproj
@@ -3,7 +3,7 @@
 	archiveVersion = 1;
 	classes = {
 	};
-	objectVersion = 51;
+	objectVersion = 54;
 	objects = {
 
 /* Begin PBXFileReference section */
diff --git a/Tests/Fixtures/TestProject/Project.xcodeproj/project.pbxproj b/Tests/Fixtures/TestProject/Project.xcodeproj/project.pbxproj
index b8637f82..66a3271e 100644
--- a/Tests/Fixtures/TestProject/Project.xcodeproj/project.pbxproj
+++ b/Tests/Fixtures/TestProject/Project.xcodeproj/project.pbxproj
@@ -3,7 +3,7 @@
 	archiveVersion = 1;
 	classes = {
 	};
-	objectVersion = 51;
+	objectVersion = 54;
 	objects = {
 
 /* Begin PBXAggregateTarget section */
diff --git a/Tests/Fixtures/scheme_test/TestProject.xcodeproj/project.pbxproj b/Tests/Fixtures/scheme_test/TestProject.xcodeproj/project.pbxproj
index 5d7c40eb..936eca4d 100644
--- a/Tests/Fixtures/scheme_test/TestProject.xcodeproj/project.pbxproj
+++ b/Tests/Fixtures/scheme_test/TestProject.xcodeproj/project.pbxproj
@@ -3,7 +3,7 @@
 	archiveVersion = 1;
 	classes = {
 	};
-	objectVersion = 51;
+	objectVersion = 54;
 	objects = {
 
 /* Begin PBXFileReference section */