diff --git a/CHANGELOG.md b/CHANGELOG.md
index 69e772d..7d6db88 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -28,6 +28,12 @@ and this project adheres to [Semantic Versioning](http://semver.org/spec/v2.0.0.
 
 ### ⚠️ Deprecated
 
+## [0.5.0] - 2024-08-27
+
+### ✏️ Changed
+
+- [#43](https://github.com/Qiskit/qiskit-ibm-transpiler/pull/43) Rename package to `qiskit-ibm-transpiler`
+
 ## [0.4.6] - 2024-08-23
 
 ### 🎉 Added
@@ -147,7 +153,8 @@ and this project adheres to [Semantic Versioning](http://semver.org/spec/v2.0.0.
 
 - Publishing first version 0.1.2 for the IBM Quantum Summit.
 
-[Unreleased]: https://github.com/Qiskit/qiskit-ibm-transpiler/compare/0.4.6...main
+[Unreleased]: https://github.com/Qiskit/qiskit-ibm-transpiler/compare/0.5.0...main
+[0.5.0]: https://github.com/Qiskit/qiskit-ibm-transpiler/compare/0.4.6...0.5.0
 [0.4.6]: https://github.com/Qiskit/qiskit-ibm-transpiler/compare/0.4.5...0.4.6
 [0.4.5]: https://github.com/Qiskit/qiskit-ibm-transpiler/compare/0.4.4...0.4.5
 [0.4.4]: https://github.com/Qiskit/qiskit-ibm-transpiler/compare/0.4.3...0.4.4
diff --git a/docs/conf.py b/docs/conf.py
index 00679ef..44d2664 100644
--- a/docs/conf.py
+++ b/docs/conf.py
@@ -13,7 +13,7 @@
 project = "Qiskit IBM Transpiler"
 copyright = "2024, IBM Quantum"
 author = "IBM Quantum"
-release = "0.4.6"
+release = "0.5.0"
 
 # -- General configuration ---------------------------------------------------
 # https://www.sphinx-doc.org/en/master/usage/configuration.html#general-configuration
diff --git a/setup.py b/setup.py
index 14fe91f..67f5f75 100644
--- a/setup.py
+++ b/setup.py
@@ -31,7 +31,7 @@
 
 setup(
     name="qiskit-ibm-transpiler",
-    version="0.4.6",
+    version="0.5.0",
     description="A library to use Qiskit IBM Transpiler (https://docs.quantum.ibm.com/transpile/qiskit-ibm-transpiler) and the AI transpiler passes (https://docs.quantum.ibm.com/transpile/ai-transpiler-passes)",
     long_description=README,
     long_description_content_type="text/markdown",