diff --git a/CHANGELOG.md b/CHANGELOG.md
index ba1164a23..54c29b848 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -20,7 +20,7 @@ Given a version number `MAJOR.MINOR.PATCH`, we increment the:
 - Backward compatibility in versions `0.0.z` is **not guaranteed** when `z` is increased.
 - Backward compatibility in versions `0.y.z` is **not guaranteed** when `y` is increased.
 
-## Unreleased
+## v0.5.0
 
 ### BREAKING CHANGES
 
diff --git a/VERSION b/VERSION
index 4259c642a..8f0916f76 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-0.5.0-dev
+0.5.0