diff --git a/CHANGELOG.md b/CHANGELOG.md
index 98252da5a8..ff466b1230 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,7 +5,7 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
-## [Unreleased]
+## [0.5.0] - 2025-05-06
 
 #### Added
  - New function `secp256k1_ec_pubkey_sort` that sorts public keys using lexicographic (of compressed serialization) order.
@@ -15,6 +15,9 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
    - The related configure option `--ecmult-gen-precision` was replaced with `--ecmult-gen-kb` (`ECMULT_GEN_KB` for CMake).
    - This changes the supported precomputed table sizes for these operations. The new supported sizes are 2 KiB, 22 KiB, or 86 KiB (while the old supported sizes were 32 KiB, 64 KiB, or 512 KiB).
 
+#### ABI Compatibility
+The ABI is backward compatible with versions 0.4.x and 0.3.x.
+
 ## [0.4.1] - 2023-12-21
 
 #### Changed
@@ -123,7 +126,7 @@ This version was in fact never released.
 The number was given by the build system since the introduction of autotools in Jan 2014 (ea0fe5a5bf0c04f9cc955b2966b614f5f378c6f6).
 Therefore, this version number does not uniquely identify a set of source files.
 
-[unreleased]: https://github.com/bitcoin-core/secp256k1/compare/v0.4.1...HEAD
+[0.5.0]: https://github.com/bitcoin-core/secp256k1/compare/v0.4.1...v0.5.0
 [0.4.1]: https://github.com/bitcoin-core/secp256k1/compare/v0.4.0...v0.4.1
 [0.4.0]: https://github.com/bitcoin-core/secp256k1/compare/v0.3.2...v0.4.0
 [0.3.2]: https://github.com/bitcoin-core/secp256k1/compare/v0.3.1...v0.3.2
diff --git a/CMakeLists.txt b/CMakeLists.txt
index a70f2edd6f..9e4687ae65 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -11,7 +11,7 @@ project(libsecp256k1
   # The package (a.k.a. release) version is based on semantic versioning 2.0.0 of
   # the API. All changes in experimental modules are treated as
   # backwards-compatible and therefore at most increase the minor version.
-  VERSION 0.4.2
+  VERSION 0.5.0
   DESCRIPTION "Optimized C library for ECDSA signatures and secret/public key operations on curve secp256k1."
   HOMEPAGE_URL "https://github.com/bitcoin-core/secp256k1"
   LANGUAGES C
@@ -34,9 +34,9 @@ endif()
 # https://www.gnu.org/software/libtool/manual/html_node/Updating-version-info.html
 # All changes in experimental modules are treated as if they don't affect the
 # interface and therefore only increase the revision.
-set(${PROJECT_NAME}_LIB_VERSION_CURRENT 3)
-set(${PROJECT_NAME}_LIB_VERSION_REVISION 2)
-set(${PROJECT_NAME}_LIB_VERSION_AGE 1)
+set(${PROJECT_NAME}_LIB_VERSION_CURRENT 4)
+set(${PROJECT_NAME}_LIB_VERSION_REVISION 0)
+set(${PROJECT_NAME}_LIB_VERSION_AGE 2)
 
 set(CMAKE_C_STANDARD 90)
 set(CMAKE_C_EXTENSIONS OFF)
diff --git a/configure.ac b/configure.ac
index 68eae5ad8c..42f94c8699 100644
--- a/configure.ac
+++ b/configure.ac
@@ -4,18 +4,18 @@ AC_PREREQ([2.60])
 # the API. All changes in experimental modules are treated as
 # backwards-compatible and therefore at most increase the minor version.
 define(_PKG_VERSION_MAJOR, 0)
-define(_PKG_VERSION_MINOR, 4)
-define(_PKG_VERSION_PATCH, 2)
-define(_PKG_VERSION_IS_RELEASE, false)
+define(_PKG_VERSION_MINOR, 5)
+define(_PKG_VERSION_PATCH, 0)
+define(_PKG_VERSION_IS_RELEASE, true)
 
 # The library version is based on libtool versioning of the ABI. The set of
 # rules for updating the version can be found here:
 # https://www.gnu.org/software/libtool/manual/html_node/Updating-version-info.html
 # All changes in experimental modules are treated as if they don't affect the
 # interface and therefore only increase the revision.
-define(_LIB_VERSION_CURRENT, 3)
-define(_LIB_VERSION_REVISION, 2)
-define(_LIB_VERSION_AGE, 1)
+define(_LIB_VERSION_CURRENT, 4)
+define(_LIB_VERSION_REVISION, 0)
+define(_LIB_VERSION_AGE, 2)
 
 AC_INIT([libsecp256k1],m4_join([.], _PKG_VERSION_MAJOR, _PKG_VERSION_MINOR, _PKG_VERSION_PATCH)m4_if(_PKG_VERSION_IS_RELEASE, [true], [], [-dev]),[https://github.com/bitcoin-core/secp256k1/issues],[libsecp256k1],[https://github.com/bitcoin-core/secp256k1])