diff --git a/doc/changelog.rst b/doc/changelog.rst
index 365ca7cf8a..00f076b46b 100644
--- a/doc/changelog.rst
+++ b/doc/changelog.rst
@@ -1,70 +1,30 @@
 Shuup Change Log
 ================
 
-Unrealeased
+SHUUP 0.5.0
 -----------
 
-- List all changes after last release here (newer on top).  Each change
-  on a separate bullet point line.  Wrap the file at 79 columns or so.
-  When releasing next version, the "Unreleased" header will be replaced
-  with appropriate version header and this help text will be removed.
-
-Core
-~~~~
-
-Localization
-~~~~~~~~~~~~
+Released on 2016-09-29 12:20pm -0800.
 
 Admin
 ~~~~~
 
 - Enable login with email
+- Update menu
 
-Addons
-~~~~~~
-
-Front
-~~~~~
-
-Xtheme
-~~~~~~
-
-Classic Gray Theme
-~~~~~~~~~~~~~~~~~~
-
-Simple Supplier
-~~~~~~~~~~~~~~~
-
-Order Printouts
-~~~~~~~~~~~~~~~
-
-Campaigns
-~~~~~~~~~
-
-Customer Group Pricing
-~~~~~~~~~~~~~~~~~~~~~~
-
-Discount Pricing
-~~~~~~~~~~~~~~~~
-
-Simple CMS
-~~~~~~~~~~
-
-Default Tax
-~~~~~~~~~~~
-
-Guide
-~~~~~
-
-Importer
-~~~~~~~~
+Core
+~~~~
 
-Regions
-~~~~~~~
+- Fix bug in prices
+   - Avoid calculations based on rounded values
+   - Round tax summary values so that the prices shown in
+     summary matches with order totals
 
 General/miscellaneous
 ~~~~~~~~~~~~~~~~~~~~~
 
+- Add support for Django 1.9.x
+
 SHUUP 0.4.7
 -----------
 
diff --git a/doc/conf.py b/doc/conf.py
index feea980dc9..eeb5641129 100644
--- a/doc/conf.py
+++ b/doc/conf.py
@@ -69,9 +69,9 @@ def patch_for_introspection():
 # built documents.
 #
 # The short X.Y version.
-version = '0.4+'
+version = '0.5'
 # The full version, including alpha/beta/rc tags.
-release = '0.4.7+'
+release = '0.5.0'
 
 # The language for content autogenerated by Sphinx. Refer to documentation
 # for a list of supported languages.
diff --git a/doc/release_notes/0.5.0.rst b/doc/release_notes/0.5.0.rst
new file mode 100644
index 0000000000..a8c061e184
--- /dev/null
+++ b/doc/release_notes/0.5.0.rst
@@ -0,0 +1,13 @@
+Shuup 0.5.0 Release Notes
+=========================
+
+Released on 2016-09-29 12:20pm -0800.
+
+Add support for Django 1.9.x
+
+Admin: Enable login with email and Update menu
+Core: Fix bug in rounding priceful attributes
+
+For all changes see the full changelog:
+:doc:`../shoop-changelog` or `Git commit log
+<https://github.com/shuup/shuup/commits/v0.5.0>`__.
diff --git a/setup.py b/setup.py
index b4975c4c66..8fb4c06691 100644
--- a/setup.py
+++ b/setup.py
@@ -40,7 +40,7 @@
 #      - Add ".post0.dev" suffix to VERSION variable here
 
 NAME = 'shuup'
-VERSION = '0.4.7.post0.dev'
+VERSION = '0.5.0'
 DESCRIPTION = 'E-Commerce Platform'
 AUTHOR = 'Shoop Commerce Ltd.'
 AUTHOR_EMAIL = 'shuup@shuup.com'