diff --git a/CHANGELOG.rst b/CHANGELOG.rst
index b46e14a1..8ce3f953 100644
--- a/CHANGELOG.rst
+++ b/CHANGELOG.rst
@@ -1,6 +1,8 @@
 Changelog
 =========
 
+0.8.6 (2023-03-07)
+------------------
 - Fix broken 0.8.5 by adding missing `__init__.py` to elfi/methods/bsl/
 
 0.8.5 (2023-03-07)
diff --git a/README.md b/README.md
index eccd2281..5351a8e9 100644
--- a/README.md
+++ b/README.md
@@ -1,4 +1,4 @@
-**Version 0.8.5 released!** See the [CHANGELOG](CHANGELOG.rst) and [notebooks](https://github.com/elfi-dev/notebooks).
+**Version 0.8.6 released!** See the [CHANGELOG](CHANGELOG.rst) and [notebooks](https://github.com/elfi-dev/notebooks).
 
 <img src="https://raw.githubusercontent.com/elfi-dev/elfi/dev/docs/logos/elfi_logo_text_nobg.png" width="200" />
 
diff --git a/elfi/__init__.py b/elfi/__init__.py
index ff4505c9..233fe846 100644
--- a/elfi/__init__.py
+++ b/elfi/__init__.py
@@ -32,4 +32,4 @@
 __email__ = 'elfi-support@hiit.fi'
 
 # make sure __version_ is on the last non-empty line (read by setup.py)
-__version__ = '0.8.5'
+__version__ = '0.8.6'