diff --git a/codegen/CHANGELOG.md b/codegen/CHANGELOG.md
new file mode 100644
index 0000000000000..7ea5d65c48149
--- /dev/null
+++ b/codegen/CHANGELOG.md
@@ -0,0 +1,7 @@
+# Smithy AWS Typescript Codegen Changelog
+
+## 0.5.0 (2021-07-23)
+
+### Features
+
+* Updated `smithy-typescript-codegen` dependency to `0.5.0`.
diff --git a/codegen/build.gradle.kts b/codegen/build.gradle.kts
index 93f608088b61d..7bf7b95c5933f 100644
--- a/codegen/build.gradle.kts
+++ b/codegen/build.gradle.kts
@@ -28,7 +28,7 @@ allprojects {
         mavenCentral()
     }
     group = "software.amazon.smithy.typescript"
-    version = "0.4.1"
+    version = "0.5.0"
 }
 
 // The root project doesn't produce a JAR.
diff --git a/codegen/smithy-aws-typescript-codegen/build.gradle.kts b/codegen/smithy-aws-typescript-codegen/build.gradle.kts
index a0515af413a2f..a3c97c85f5fae 100644
--- a/codegen/smithy-aws-typescript-codegen/build.gradle.kts
+++ b/codegen/smithy-aws-typescript-codegen/build.gradle.kts
@@ -35,7 +35,7 @@ dependencies {
     api("software.amazon.smithy:smithy-waiters:[1.9.0, 1.10.0[")
     api("software.amazon.smithy:smithy-aws-iam-traits:[1.9.0, 1.10.0[")
     api("software.amazon.smithy:smithy-protocol-test-traits:[1.9.0, 1.10.0[")
-    api("software.amazon.smithy.typescript:smithy-typescript-codegen:0.4.1")
+    api("software.amazon.smithy.typescript:smithy-typescript-codegen:0.5.0")
 }
 
 tasks.register("set-aws-sdk-versions") {