diff --git a/pyproject.toml b/pyproject.toml
index 4da364380..1deb74251 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -6,7 +6,7 @@ build-backend = "poetry.core.masonry.api"
 # Check https://python-poetry.org/docs/pyproject/ for all available sections
 name = "ansys-dpf-composites"
 # Switch to released version of dpf core releasing pydpf-composites!
-version = "0.4.dev0"
+version = "0.5.0"
 description = "Post-processing of composite structures based on Ansys DPF"
 license = "MIT"
 authors = ["ANSYS, Inc. <ansys.support@ansys.com>"]
diff --git a/tests/test_metadata.py b/tests/test_metadata.py
index a703ceea9..102ba8c81 100644
--- a/tests/test_metadata.py
+++ b/tests/test_metadata.py
@@ -24,4 +24,4 @@
 
 
 def test_pkg_version():
-    assert __version__ == "0.4.dev0"
+    assert __version__ == "0.5.0"