diff --git a/CHANGELOG.md b/CHANGELOG.md
index 3b9df3347..005aa963c 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,8 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## Unreleased
 
+## [v0.5.0](https://github.com/allenai/tango/releases/tag/v0.5.0) - 2022-02-09
+
 ### Added
 
 - Added `TrainingEngine` abstraction to torch integration.
diff --git a/tango/version.py b/tango/version.py
index a9b1e88bc..dfcab4540 100644
--- a/tango/version.py
+++ b/tango/version.py
@@ -1,5 +1,5 @@
 _MAJOR = "0"
-_MINOR = "4"
+_MINOR = "5"
 # On main and in a nightly release the patch should be one ahead of the last
 # released build.
 _PATCH = "0"