diff --git a/.bumpversion.cfg b/.bumpversion.cfg
index a6982b0..2e487c0 100644
--- a/.bumpversion.cfg
+++ b/.bumpversion.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 0.4.1
+current_version = 0.5.0
 
 [bumpversion:file:pyproject.toml]
 
diff --git a/.copier-answers.yml b/.copier-answers.yml
index b9a7809..10ba6c8 100644
--- a/.copier-answers.yml
+++ b/.copier-answers.yml
@@ -7,7 +7,7 @@ description: Kedro plugin with Azure ML Pipelines support
 docs_url: https://kedro-azureml.readthedocs.io/
 full_name: Kedro Azure ML Pipelines plugin
 github_url: https://github.com/getindata/kedro-azureml
-initial_version: 0.4.1
+initial_version: 0.5.0
 keywords:
 - kedro
 - mlops
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4d3826c..3385534 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,9 +1,12 @@
 # Changelog
 
 ## [Unreleased]
+
+## [0.5.0] - 2023-08-11
+
 -   [🚀 New dataset] Added support for `AzureMLAssetDataSet` based on Azure ML SDK v2 (fsspec) by [@tomasvanpottelbergh](https://github.com/tomasvanpottelbergh) & [@froessler](https://github.com/fdroessler)
 -   [📝 Docs] Updated datasets docs with sections
--   Bumped minimal required Kedro version to `0.18.11
+-   Bumped minimal required Kedro version to \`0.18.11
 -   [⚠️ Deprecation warning] - starting from `0.4.0` the plugin is not compatible with ARM macOS versions due to internal azure dependencies (v1 SDKs). V1 SDK-based datasets will be removed in the future
 
 ## [0.4.1] - 2023-05-04
@@ -66,7 +69,9 @@
 
 -   Initial plugin release
 
-[Unreleased]: https://github.com/getindata/kedro-azureml/compare/0.4.1...HEAD
+[Unreleased]: https://github.com/getindata/kedro-azureml/compare/0.5.0...HEAD
+
+[0.5.0]: https://github.com/getindata/kedro-azureml/compare/0.4.1...0.5.0
 
 [0.4.1]: https://github.com/getindata/kedro-azureml/compare/0.4.0...0.4.1
 
diff --git a/kedro_azureml/__init__.py b/kedro_azureml/__init__.py
index 2b12256..82eb5a1 100644
--- a/kedro_azureml/__init__.py
+++ b/kedro_azureml/__init__.py
@@ -1,4 +1,4 @@
-__version__ = "0.4.1"
+__version__ = "0.5.0"
 
 import warnings
 
diff --git a/pyproject.toml b/pyproject.toml
index 168c5e9..151925e 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "kedro-azureml"
-version = "0.4.1"
+version = "0.5.0"
 description = "Kedro plugin with Azure ML Pipelines support"
 readme = "README.md"
 authors = ['marcin.zablocki <marcin.zablocki@getindata.com>']
diff --git a/sonar-project.properties b/sonar-project.properties
index b8a7777..f1737a0 100644
--- a/sonar-project.properties
+++ b/sonar-project.properties
@@ -6,7 +6,7 @@ sonar.tests=tests/
 sonar.python.coverage.reportPaths=coverage.xml
 sonar.python.version=3.9
 
-sonar.projectVersion=0.4.1
+sonar.projectVersion=0.5.0
 sonar.projectDescription=Kedro plugin with Azure ML Pipelines support
 sonar.links.homepage=https://kedro-azureml.readthedocs.io/
 sonar.links.ci=https://github.com/getindata/kedro-azureml/actions