diff --git a/CHANGELOG.md b/CHANGELOG.md
index d0a3b87b..a3f03908 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,8 @@
 
 ## Next
 
+## 0.5.0
+
 ### Added
 - PDF-to-graph pipeline for knowledge graph construction in experimental mode
 - Introduced support for Component/Pipeline flexible architecture.
diff --git a/pyproject.toml b/pyproject.toml
index 8408143d..b5678cad 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -15,7 +15,7 @@
 
 [tool.poetry]
 name = "neo4j-genai"
-version = "0.4.0"
+version = "0.5.0"
 description = "Python package to allow easy integration to Neo4j's GenAI features"
 authors = ["Neo4j, Inc <team-gen-ai@neo4j.com>"]
 license = "Apache License, Version 2.0"