diff --git a/docs/commands.rst b/docs/commands.rst
index 1e9359b61..185f00015 100644
--- a/docs/commands.rst
+++ b/docs/commands.rst
@@ -144,6 +144,33 @@ command line options::
     semantic-release version --patch --print
     semantic-release version --prerelease --print
 
+.. _cmd-version-option-print-tag:
+
+``--print-tag``
+***************
+
+Same as the :ref:`cmd-version-option-print` flag but prints the complete tag
+name (ex. ``v1.0.0`` or ``py-v1.0.0``) instead of the raw version number
+(``1.0.0``).
+
+.. _cmd-version-option-print-last-released:
+
+``--print-last-released``
+*************************
+
+Print the last released version based on the Git tags.  This flag is useful if you just
+want to see the released version without determining what the next version will be.
+Note if the version can not be found nothing will be printed.
+
+.. _cmd-version-option-print-last-released-tag:
+
+``--print-last-released-tag``
+***************
+
+Same as the :ref:`cmd-version-option-print-last-released` flag but prints the
+complete tag name (ex. ``v1.0.0`` or ``py-v1.0.0``) instead of the raw version
+number (``1.0.0``).
+
 .. _cmd-version-option-force-level:
 
 ``--major/--minor/--patch``
diff --git a/pyproject.toml b/pyproject.toml
index 74c37290b..c8f892919 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -23,6 +23,7 @@ readme = "README.rst"
 authors = [{ name = "Rolf Erik Lekang", email = "me@rolflekang.com" }]
 dependencies = [
   "click>=8,<9",
+  "click-option-group~=0.5",
   "gitpython>=3.0.8,<4",
   "requests>=2.25,<3",
   "jinja2>=3.1.2,<4",
diff --git a/semantic_release/cli/commands/version.py b/semantic_release/cli/commands/version.py
index 8f422b120..83a4364fd 100644
--- a/semantic_release/cli/commands/version.py
+++ b/semantic_release/cli/commands/version.py
@@ -9,6 +9,7 @@
 
 import click
 import shellingham  # type: ignore[import]
+from click_option_group import MutuallyExclusiveOptionGroup, optgroup
 from git.exc import GitCommandError
 
 from semantic_release.changelog import ReleaseHistory, environment, recursive_render
@@ -26,8 +27,9 @@
 
 log = logging.getLogger(__name__)
 
-if TYPE_CHECKING:
+if TYPE_CHECKING:  # pragma: no cover
     from git import Repo
+    from git.refs.tag import Tag
 
     from semantic_release.cli.config import RuntimeContext
     from semantic_release.version import VersionTranslator
@@ -48,6 +50,13 @@ def is_forced_prerelease(
     return force_prerelease or ((force_level is None) and prerelease)
 
 
+def last_released(
+    repo: Repo, translator: VersionTranslator
+) -> tuple[Tag, Version] | None:
+    ts_and_vs = tags_and_versions(repo.tags, translator)
+    return ts_and_vs[0] if ts_and_vs else None
+
+
 def version_from_forced_level(
     repo: Repo, level_bump: LevelBump, translator: VersionTranslator
 ) -> Version:
@@ -111,9 +120,26 @@ def shell(cmd: str, *, check: bool = True) -> subprocess.CompletedProcess:
         "help_option_names": ["-h", "--help"],
     },
 )
-@click.option(
+@optgroup.group("Print flags", cls=MutuallyExclusiveOptionGroup)
+@optgroup.option(
     "--print", "print_only", is_flag=True, help="Print the next version and exit"
 )
+@optgroup.option(
+    "--print-tag",
+    "print_only_tag",
+    is_flag=True,
+    help="Print the next version tag and exit",
+)
+@optgroup.option(
+    "--print-last-released",
+    is_flag=True,
+    help="Print the last released version and exit",
+)
+@optgroup.option(
+    "--print-last-released-tag",
+    is_flag=True,
+    help="Print the last released version tag and exit",
+)
 @click.option(
     "--prerelease",
     "force_prerelease",
@@ -191,6 +217,9 @@ def shell(cmd: str, *, check: bool = True) -> subprocess.CompletedProcess:
 def version(  # noqa: C901
     ctx: click.Context,
     print_only: bool = False,
+    print_only_tag: bool = False,
+    print_last_released: bool = False,
+    print_last_released_tag: bool = False,
     force_prerelease: bool = False,
     prerelease_token: str | None = None,
     force_level: str | None = None,
@@ -219,8 +248,20 @@ def version(  # noqa: C901
     """
     runtime: RuntimeContext = ctx.obj
     repo = runtime.repo
-    parser = runtime.commit_parser
     translator = runtime.version_translator
+
+    # We can short circuit updating the release if we are only printing the last released version
+    if print_last_released or print_last_released_tag:
+        if last_release := last_released(repo, translator):
+            if print_last_released:
+                click.echo(last_release[1])
+            if print_last_released_tag:
+                click.echo(last_release[0])
+        else:
+            log.warning("No release tags found.")
+        ctx.exit(0)
+
+    parser = runtime.commit_parser
     prerelease = is_forced_prerelease(
         force_prerelease=force_prerelease,
         force_level=force_level,
@@ -301,7 +342,10 @@ def version(  # noqa: C901
     ctx.call_on_close(gha_output.write_if_possible)
 
     # Print the new version so that command-line output capture will work
-    click.echo(str(new_version))
+    if print_only_tag:
+        click.echo(translator.str_to_tag(str(new_version)))
+    else:
+        click.echo(str(new_version))
 
     # If the new version has already been released, we fail and abort if strict;
     # otherwise we exit with 0.
@@ -318,7 +362,7 @@ def version(  # noqa: C901
             )
             ctx.exit(0)
 
-    if print_only:
+    if print_only or print_only_tag:
         ctx.exit(0)
 
     rprint(f"[bold green]The next version is: [white]{new_version!s}[/white]! :rocket:")
diff --git a/tests/command_line/test_version.py b/tests/command_line/test_version.py
index ba2fbeaed..6f62e24fd 100644
--- a/tests/command_line/test_version.py
+++ b/tests/command_line/test_version.py
@@ -743,3 +743,36 @@ def test_version_only_update_files_no_git_actions(
     assert len(removed) == 1
     assert re.match('__version__ = ".*"', removed[0])
     assert added == [f'__version__ = "{expected_new_version}"\n']
+
+
+def test_version_print_last_released_prints_version(
+    repo_with_single_branch_tag_commits: Repo, cli_runner: CliRunner
+):
+    result = cli_runner.invoke(main, [version.name, "--print-last-released"])
+    assert result.exit_code == 0
+    assert result.stdout == "0.1.1\n"
+
+
+def test_version_print_last_released_prints_released_if_commits(
+    repo_with_single_branch_tag_commits: Repo,
+    example_project_dir: ExProjectDir,
+    cli_runner: CliRunner,
+):
+    new_file = example_project_dir / "temp.txt"
+    new_file.write_text("test --print-last-released")
+
+    repo_with_single_branch_tag_commits.git.add(str(new_file.resolve()))
+    repo_with_single_branch_tag_commits.git.commit(m="fix: temp new file")
+
+    result = cli_runner.invoke(main, [version.name, "--print-last-released"])
+    assert result.exit_code == 0
+    assert result.stdout == "0.1.1\n"
+
+
+def test_version_print_last_released_prints_nothing_if_no_tags(
+    caplog, repo_with_no_tags_angular_commits: Repo, cli_runner: CliRunner
+):
+    result = cli_runner.invoke(main, [version.name, "--print-last-released"])
+    assert result.exit_code == 0
+    assert result.stdout == ""
+    assert "No release tags found." in caplog.text