diff --git a/CHANGES.rst b/CHANGES.rst
index 5c67da11..af5456f3 100644
--- a/CHANGES.rst
+++ b/CHANGES.rst
@@ -1,7 +1,7 @@
 Version 0.5.0
 -------------
 
-Unreleased
+Released 2021-12-31
 
 -   Cache types now have configurable serializers. :pr:`63`
 
diff --git a/src/cachelib/__init__.py b/src/cachelib/__init__.py
index 67b880e8..e6d6770c 100644
--- a/src/cachelib/__init__.py
+++ b/src/cachelib/__init__.py
@@ -15,4 +15,4 @@
     "RedisCache",
     "UWSGICache",
 ]
-__version__ = "0.4.1"
+__version__ = "0.5.0"