diff --git a/CHANGES.md b/CHANGES.md
index b5eeb4f1..4f536da1 100644
--- a/CHANGES.md
+++ b/CHANGES.md
@@ -1,5 +1,9 @@
 # Changes
 
+## 2020-12-22 (2.5.0)
+
+* Ready to Ractor-safe at Ruby 3.0.
+
 ## 2020-12-17 (2.4.1)
 
 * Restore version.rb with 2.4.1
diff --git a/VERSION b/VERSION
index 005119ba..437459cd 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-2.4.1
+2.5.0
diff --git a/lib/json/version.rb b/lib/json/version.rb
index 5502a4d2..2a0a6e8e 100644
--- a/lib/json/version.rb
+++ b/lib/json/version.rb
@@ -1,7 +1,7 @@
 # frozen_string_literal: false
 module JSON
   # JSON version
-  VERSION         = '2.4.1'
+  VERSION         = '2.5.0'
   VERSION_ARRAY   = VERSION.split(/\./).map { |x| x.to_i } # :nodoc:
   VERSION_MAJOR   = VERSION_ARRAY[0] # :nodoc:
   VERSION_MINOR   = VERSION_ARRAY[1] # :nodoc: