diff --git a/Cargo.lock b/Cargo.lock
index e0193a88e..0cf7b79d5 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -2355,7 +2355,7 @@ checksum = "6af6ae20167a9ece4bcb41af5b80f8a1f1df981f6391189ce00fd257af04126a"
 
 [[package]]
 name = "typst"
-version = "0.4.0"
+version = "0.5.0"
 dependencies = [
  "bitflags 2.3.1",
  "bytemuck",
@@ -2396,7 +2396,7 @@ dependencies = [
 
 [[package]]
 name = "typst-cli"
-version = "0.4.0"
+version = "0.5.0"
 dependencies = [
  "chrono",
  "clap 4.2.7",
@@ -2425,7 +2425,7 @@ dependencies = [
 
 [[package]]
 name = "typst-docs"
-version = "0.4.0"
+version = "0.5.0"
 dependencies = [
  "comemo",
  "heck",
@@ -2444,7 +2444,7 @@ dependencies = [
 
 [[package]]
 name = "typst-library"
-version = "0.4.0"
+version = "0.5.0"
 dependencies = [
  "az",
  "chinese-number",
@@ -2482,7 +2482,7 @@ dependencies = [
 
 [[package]]
 name = "typst-macros"
-version = "0.4.0"
+version = "0.5.0"
 dependencies = [
  "heck",
  "proc-macro2",
@@ -2492,7 +2492,7 @@ dependencies = [
 
 [[package]]
 name = "typst-tests"
-version = "0.4.0"
+version = "0.5.0"
 dependencies = [
  "clap 4.2.7",
  "comemo",
diff --git a/Cargo.toml b/Cargo.toml
index c0833d965..50ed3fa35 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -3,7 +3,7 @@ members = ["cli", "docs", "library", "macros", "tests"]
 default-members = ["cli"]
 
 [workspace.package]
-version = "0.4.0"
+version = "0.5.0"
 rust-version = "1.70" # also change in ci.yml
 authors = ["The Typst Project Developers"]
 edition = "2021"
diff --git a/docs/src/general/changelog.md b/docs/src/general/changelog.md
index ce669bbb3..9da6bc251 100644
--- a/docs/src/general/changelog.md
+++ b/docs/src/general/changelog.md
@@ -5,7 +5,7 @@ description: |
 ---
 
 # Changelog
-## Unreleased
+## Version 0.5.0 (June 9, 2023) { #v0.5.0 }
 - Text and Layout
   - Added [`raw`]($func/raw) syntax highlighting for many more languages
   - Added support for Korean [numbering]($func/numbering)
@@ -66,6 +66,8 @@ description: |
   - Fixed bugs with [reference supplements]($func/ref.supplement)
   - Fixed Nix flake
 
+<contributors from="v0.4.0" to="v0.5.0" />
+
 ## Version 0.4.0 (May 20, 2023) { #v0.4.0 }
 - Footnotes
   - Implemented support for footnotes