diff --git a/debian/changelog b/debian/changelog
index 1f9e2ee2a8..bf51c6ba88 100644
--- a/debian/changelog
+++ b/debian/changelog
@@ -1,3 +1,9 @@
+nntrainer (0.5.0) unstable; urgency=medium
+
+  * 0.5.0 released
+
+ -- jijoongmoon <jijoong.moon@samsung.com>  Tue, 04 Apr 2023 08:57:24 +0900
+
 nntrainer (0.4.0) unstable; urgency=medium
 
   * 0.4.0 released
diff --git a/meson.build b/meson.build
index acf8344696..9da9cd04f9 100644
--- a/meson.build
+++ b/meson.build
@@ -1,5 +1,5 @@
 project('nntrainer', 'c', 'cpp',
-  version: '0.4.0',
+  version: '0.5.0',
   license: ['apache-2.0'],
   meson_version: '>=0.50.0',
   default_options: [
diff --git a/packaging/nntrainer.spec b/packaging/nntrainer.spec
index b869399353..9ea121644d 100644
--- a/packaging/nntrainer.spec
+++ b/packaging/nntrainer.spec
@@ -49,7 +49,7 @@
 
 Name:		nntrainer
 Summary:	Software framework for training neural networks
-Version:	0.4.0
+Version:	0.5.0
 Release:	0
 Packager:	Jijoong Moon <jijoong.moon@samsung.com>
 License:	Apache-2.0
@@ -626,6 +626,8 @@ cp -r result %{buildroot}%{_datadir}/nntrainer/unittest/
 %endif
 
 %changelog
+* Tue Apr 04 2023 Jijoong Moon <jijoong.moon@samsung.com>
+- Release of 0.5.0
 * Mon Sep 26 2022 Jijoong Moon <jijoong.moon@samsung.com>
 - Release of 0.4.0
 * Fri Sep 24 2021 Jijoong Moon <jijoong.moon@samsung.com>