diff --git a/CHANGELOG.md b/CHANGELOG.md
index ec2304aa5..d473bf88e 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]
 
+## [0.5.0] - 2022-10-17
+
 ### Breaking changes
 
 * Open commits are now disabled by default. That means that `jj checkout` will
@@ -33,7 +35,6 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 * `jj merge` now checks out the new commit. The command now behaves exactly
   like `jj new`, except that it requires at least two arguments.
-  
 
 * When the working-copy commit is abandoned by `jj abandon` and the parent
   commit is open, a new working-copy commit will be created on top (the open
diff --git a/Cargo.lock b/Cargo.lock
index b06ade47e..2f12af136 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -667,7 +667,7 @@ dependencies = [
 
 [[package]]
 name = "jujutsu"
-version = "0.4.0"
+version = "0.5.0"
 dependencies = [
  "assert_cmd",
  "atty",
@@ -700,7 +700,7 @@ dependencies = [
 
 [[package]]
 name = "jujutsu-lib"
-version = "0.4.0"
+version = "0.5.0"
 dependencies = [
  "assert_matches",
  "backoff",
diff --git a/Cargo.toml b/Cargo.toml
index ad14379b7..561cc4586 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "jujutsu"
-version = "0.4.0"
+version = "0.5.0"
 authors = ["Martin von Zweigbergk <martinvonz@google.com>"]
 edition = "2021"
 rust-version = "1.60"  # Remember to update CI
@@ -44,7 +44,7 @@ dirs = "4.0.0"
 git2 = "0.15.0"
 hex = "0.4.3"
 itertools = "0.10.5"
-jujutsu-lib = { version = "=0.4.0", path = "lib"}
+jujutsu-lib = { version = "=0.5.0", path = "lib"}
 maplit = "1.0.2"
 pest = "2.4.0"
 pest_derive = "2.4"
diff --git a/lib/Cargo.toml b/lib/Cargo.toml
index d1b223759..4d151a32e 100644
--- a/lib/Cargo.toml
+++ b/lib/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "jujutsu-lib"
-version = "0.4.0"
+version = "0.5.0"
 authors = ["Martin von Zweigbergk <martinvonz@google.com>"]
 edition = "2021"
 rust-version = "1.60"