diff --git a/changelog.d/20241024_111339_dawoud.sheraz_redwood_3.md b/changelog.d/20241024_111339_dawoud.sheraz_redwood_3.md
new file mode 100644
index 0000000000..26a05e3df9
--- /dev/null
+++ b/changelog.d/20241024_111339_dawoud.sheraz_redwood_3.md
@@ -0,0 +1 @@
+ - [Feature] Update Open edX version to redwood.3 (by @dawoudsheraz)
diff --git a/docs/configuration.rst b/docs/configuration.rst
index 96133e7902..6e40797a14 100644
--- a/docs/configuration.rst
+++ b/docs/configuration.rst
@@ -132,7 +132,7 @@ Open edX customisation
 
 This defines the git repository from which you install Open edX platform code. If you run an Open edX fork with custom patches, set this to your own git repository. You may also override this configuration parameter at build time, by providing a ``--build-arg`` option.
 
-- ``OPENEDX_COMMON_VERSION`` (default: ``"open-release/redwood.2"``, or ``master`` in :ref:`nightly <nightly>`)
+- ``OPENEDX_COMMON_VERSION`` (default: ``"open-release/redwood.3"``, or ``master`` in :ref:`nightly <nightly>`)
 
 This defines the default version that will be pulled from all Open edX git repositories.
 
diff --git a/tutor/templates/config/defaults.yml b/tutor/templates/config/defaults.yml
index 65a9de2983..816ce21747 100644
--- a/tutor/templates/config/defaults.yml
+++ b/tutor/templates/config/defaults.yml
@@ -61,7 +61,7 @@ OPENEDX_LMS_UWSGI_WORKERS: 2
 OPENEDX_MYSQL_DATABASE: "openedx"
 OPENEDX_MYSQL_USERNAME: "openedx"
 # the common version will be automatically set to "master" in the nightly branch
-OPENEDX_COMMON_VERSION: "open-release/redwood.2"
+OPENEDX_COMMON_VERSION: "open-release/redwood.3"
 OPENEDX_EXTRA_PIP_REQUIREMENTS: []
 MYSQL_HOST: "mysql"
 MYSQL_PORT: 3306