diff --git a/docs/source/conf.py b/docs/source/conf.py
index 0fe2802e97..8bf33c195e 100644
--- a/docs/source/conf.py
+++ b/docs/source/conf.py
@@ -23,7 +23,10 @@
 author = 'NSS Lab'
 
 # The full version, including alpha/beta/rc tags
-release = '0.7.1'
+version_info = {}
+with open('../../fedot/version.py') as fp:
+    exec(fp.read(), version_info)
+release = version_info['__version__']
 
 # -- General configuration ---------------------------------------------------
 
diff --git a/fedot/__init__.py b/fedot/__init__.py
index 371d343209..02f871335a 100644
--- a/fedot/__init__.py
+++ b/fedot/__init__.py
@@ -1 +1,4 @@
+"This file is part of the FEDOT framework for automated machine learning."
+
 from fedot import *
+from fedot.version import __version__
diff --git a/fedot/version.py b/fedot/version.py
new file mode 100644
index 0000000000..f0788a87ae
--- /dev/null
+++ b/fedot/version.py
@@ -0,0 +1 @@
+__version__ = '0.7.1'
diff --git a/setup.py b/setup.py
index 5399d6d7b0..fa898b2d5c 100644
--- a/setup.py
+++ b/setup.py
@@ -8,7 +8,12 @@
 
 # The text of the README file
 NAME = 'fedot'
-VERSION = '0.7.1'
+
+version_info = {}
+with open('./fedot/version.py') as fp:
+    exec(fp.read(), version_info)
+VERSION = version_info['__version__']
+
 AUTHOR = 'NSS Lab'
 SHORT_DESCRIPTION = 'Automated machine learning framework for composite pipelines'
 README = Path(HERE, 'README_en.rst').read_text(encoding='utf-8')