diff --git a/CHANGELOG.md b/CHANGELOG.md
index 6c1b02554..f8369b8e6 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,10 @@
 
 **Please note that Webpacker 4.1.0 has an installer bug. Please use 4.2.0 or above**
 
+## [[5.0.1]](https://github.com/rails/webpacker/compare/v4.2.2...v5.0.0) - 2020-03-22
+
+- Upgrade deps and fix sass loader config options bug [#2508](https://github.com/rails/webpacker/pull/2508)
+
 ## [[5.0.0]](https://github.com/rails/webpacker/compare/v4.2.2...v5.0.0) - 2020-03-22
 
 - Bump minimum node version [#2428](https://github.com/rails/webpacker/pull/2428)
diff --git a/Gemfile.lock b/Gemfile.lock
index 684e07933..8cb1a43a7 100644
--- a/Gemfile.lock
+++ b/Gemfile.lock
@@ -1,7 +1,7 @@
 PATH
   remote: .
   specs:
-    webpacker (5.0.0)
+    webpacker (5.0.1)
       activesupport (>= 5.2)
       rack-proxy (>= 0.6.1)
       railties (>= 5.2)
diff --git a/lib/webpacker/version.rb b/lib/webpacker/version.rb
index 7a9182821..f1608cc53 100644
--- a/lib/webpacker/version.rb
+++ b/lib/webpacker/version.rb
@@ -1,4 +1,4 @@
 module Webpacker
   # Change the version in package.json too, please!
-  VERSION = "5.0.0".freeze
+  VERSION = "5.0.1".freeze
 end
diff --git a/package.json b/package.json
index a5d9645d4..f90dbdf8c 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@rails/webpacker",
-  "version": "5.0.0",
+  "version": "5.0.1",
   "description": "Use webpack to manage app-like JavaScript modules in Rails",
   "main": "package/index.js",
   "files": [