diff --git a/.github/workflows/deploy.yml b/.github/workflows/deploy.yml
index 9777ff06faf..0b09158a45a 100644
--- a/.github/workflows/deploy.yml
+++ b/.github/workflows/deploy.yml
@@ -29,7 +29,7 @@ jobs:
     - name: Install dependencies (pinned Botorch)
       run: |
         # TODO: read pinned Botorch version from a shared source
-        pip install botorch==0.4.0
+        pip install botorch==0.5.0
         pip install -e .[dev,mysql,notebook]
       if: matrix.botorch == 'pinned'
     - name: Import Ax
diff --git a/setup.py b/setup.py
index 719879dfcd6..892f2a1a211 100644
--- a/setup.py
+++ b/setup.py
@@ -6,7 +6,7 @@
 from setuptools import find_packages, setup
 
 # TODO: read pinned Botorch version from a shared source
-PINNED_BOTORCH_VERSION = "0.4.0"
+PINNED_BOTORCH_VERSION = "0.5.0"
 
 if os.environ.get("ALLOW_BOTORCH_LATEST"):
     # allows installing using a more recent botorch dev version