diff --git a/CHANGELOG.md b/CHANGELOG.md
index 8fa6cd07..b3a148f1 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,69 @@
 
 All notable changes to this project are documented in this file.
 
+## 1.5.0
+
+**Release date:** 2025-02-18
+
+This minor release comes with various bug fixes and improvements.
+
+The controller has been updated to Kustomize **v5.6**, please see the
+`kubernetes-sigs/kustomize` [changelog](https://github.com/kubernetes-sigs/kustomize/releases)
+for more details.
+
+The Kustomization API now supports custom health checks for Custom
+Resources through Common Expression Language (CEL) expressions.
+See [docs](https://fluxcd.io/flux/components/kustomize/kustomizations/#health-check-expressions).
+
+The controller now sends an origin revision from OCI artifact
+annotations to notification-controller on events, which is
+useful for updating commit statuses on the notification
+providers that support this feature.
+See [docs](https://fluxcd.io/flux/cheatsheets/oci-artifacts/#git-commit-status-updates).
+
+It is now also possible to control whether or not kustomize-controller
+will orphan resources when a Kustomization is deleted.
+See [docs](https://fluxcd.io/flux/components/kustomize/kustomizations/#deletion-policy).
+
+In addition, the Kubernetes dependencies have been updated to v1.32.1 and
+various other controller dependencies have been updated to their latest
+version.
+
+Fixes:
+- Clarify precedence in Kustomization substituteFrom
+  [#1301](https://github.com/fluxcd/kustomize-controller/pull/1301)
+- Remove deprecated object metrics from controllers
+  [#1305](https://github.com/fluxcd/kustomize-controller/pull/1305)
+
+Improvements:
+- Enable decryption of secrets generated by Kustomize components
+  [#1283](https://github.com/fluxcd/kustomize-controller/pull/1283)
+- Added decryption of Kustomize patches and refactor SOPS tests
+  [#1286](https://github.com/fluxcd/kustomize-controller/pull/1286)
+- Allow control of finalization garbage collection
+  [#1314](https://github.com/fluxcd/kustomize-controller/pull/1314)
+- Add OCI revision to events
+  [#1338](https://github.com/fluxcd/kustomize-controller/pull/1338)
+- [RFC-0009] Add CEL custom healthchecks
+  [#1344](https://github.com/fluxcd/kustomize-controller/pull/1344)
+- Add GroupChangeLog feature gate to fix es indexing cardinality
+  [#1361](https://github.com/fluxcd/kustomize-controller/pull/1361)
+- Various dependency updates
+  [#1302](https://github.com/fluxcd/kustomize-controller/pull/1302)
+  [#1304](https://github.com/fluxcd/kustomize-controller/pull/1304)
+  [#1310](https://github.com/fluxcd/kustomize-controller/pull/1310)
+  [#1313](https://github.com/fluxcd/kustomize-controller/pull/1313)
+  [#1318](https://github.com/fluxcd/kustomize-controller/pull/1318)
+  [#1320](https://github.com/fluxcd/kustomize-controller/pull/1320)
+  [#1330](https://github.com/fluxcd/kustomize-controller/pull/1330)
+  [#1348](https://github.com/fluxcd/kustomize-controller/pull/1348)
+  [#1352](https://github.com/fluxcd/kustomize-controller/pull/1352)
+  [#1354](https://github.com/fluxcd/kustomize-controller/pull/1354)
+  [#1359](https://github.com/fluxcd/kustomize-controller/pull/1359)
+  [#1362](https://github.com/fluxcd/kustomize-controller/pull/1362)
+  [#1364](https://github.com/fluxcd/kustomize-controller/pull/1364)
+  [#1358](https://github.com/fluxcd/kustomize-controller/pull/1358)
+
 ## 1.4.0
 
 **Release date:** 2024-09-27
diff --git a/config/manager/kustomization.yaml b/config/manager/kustomization.yaml
index 7b8e4a78..c7382c20 100644
--- a/config/manager/kustomization.yaml
+++ b/config/manager/kustomization.yaml
@@ -5,4 +5,4 @@ resources:
 images:
   - name: fluxcd/kustomize-controller
     newName: fluxcd/kustomize-controller
-    newTag: v1.4.0
+    newTag: v1.5.0
diff --git a/go.mod b/go.mod
index ce3008d4..b4e92d84 100644
--- a/go.mod
+++ b/go.mod
@@ -17,7 +17,7 @@ require (
 	github.com/cyphar/filepath-securejoin v0.4.1
 	github.com/dimchansky/utfbom v1.1.1
 	github.com/fluxcd/cli-utils v0.36.0-flux.12
-	github.com/fluxcd/kustomize-controller/api v1.4.0
+	github.com/fluxcd/kustomize-controller/api v1.5.0
 	github.com/fluxcd/pkg/apis/acl v0.6.0
 	github.com/fluxcd/pkg/apis/event v0.16.0
 	github.com/fluxcd/pkg/apis/kustomize v1.9.0