diff --git a/CHANGELOG.md b/CHANGELOG.md
index 58cd56df3225eee536b35a8e0c32f3a6475f3e00..99e9a1c0d06946c679f8fe1b32f573c3876b867c 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,27 +4,20 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
-## [Unreleased] ##
+## [0.5.0] - 2022-09-05 ##
+(Florian Spreckelsen)
 
 ### Added ###
 
 - You can now use `python -m caosadvancedtools.models.parser model_file` to 
   parse and potentially synchronize data models.
 
-### Changed ###
-
 ### Deprecated ###
 
 - [#36](https://gitlab.com/caosdb/caosdb-advanced-user-tools/-/issues/36)
   `parent` keyword in yaml datamodel definition (replaced by
   `inherit_from_{obligatory|recommended|suggested}` keywords).
 
-### Removed ###
-
-### Fixed ###
-
-### Security ###
-
 ## [0.4.1] - 2022-05-03 ##
 (Henrik tom Wörden)
 
diff --git a/setup.py b/setup.py
index 929613de35de01da98b02c77cd76b17b04784bd8..e6ebb6dd7ebe6a25659a4f7584e3a3ae649d4e29 100755
--- a/setup.py
+++ b/setup.py
@@ -46,10 +46,10 @@ from setuptools import find_packages, setup
 ########################################################################
 
 MAJOR = 0
-MINOR = 4
-MICRO = 2
+MINOR = 5
+MICRO = 1
 PRE = ""  # e.g. rc0, alpha.1, 0.beta-23
-ISRELEASED = False
+ISRELEASED = True
 
 if PRE:
     VERSION = "{}.{}.{}-{}".format(MAJOR, MINOR, MICRO, PRE)
diff --git a/src/doc/conf.py b/src/doc/conf.py
index c7f82a99d3b287ca72ca57430b2d4b868539d39e..9eb8c08ae5a75cb0561d20d858350b7f6db3001b 100644
--- a/src/doc/conf.py
+++ b/src/doc/conf.py
@@ -27,9 +27,9 @@ copyright = '2021, IndiScale GmbH'
 author = 'Daniel Hornung'
 
 # The short X.Y version
-version = '0.4.1'
+version = '0.5.0'
 # The full version, including alpha/beta/rc tags
-release = '0.4.1'
+release = '0.5.0'
 
 
 # -- General configuration ---------------------------------------------------