diff --git a/CHANGELOG.md b/CHANGELOG.md
index bd9c41ea35..91a6edcafa 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,9 @@
 
 ## Next release
 
+## v0.5.0
+
+- chore: release v0.5.0
 - test: add transaction pool logic unit tests
 - feat(client): spawn a task that listen to storage changes and build the
   resulting commiment state diff for each block
diff --git a/Cargo.toml b/Cargo.toml
index a14f1df329..1c135a8e06 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -66,7 +66,7 @@ rpath = false        # Disables adding rpath to the binary
 authors = ["Abdelhamid Bakhta <@abdelhamidbakhta>"]
 edition = "2021"
 repository = "https://github.com/keep-starknet-strange/madara/"
-version = "0.4.0"
+version = "0.5.0"
 
 [workspace.dependencies]
 # Substrate frame dependencies