diff --git a/CHANGELOG.md b/CHANGELOG.md
index 29852bc..3ff8fcb 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -6,6 +6,10 @@ The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 
 ## [Unreleased]
 
+No notable changes.
+
+## [0.5.0] - 2023-05-04
+
 ### Changed
 * Require Ruby ≥ 3.0, Active Record ≥ 6.1, and PG ≥ 1.1 ([#492](https://github.com/haines/pg-aws_rds_iam/pull/492))
 
@@ -69,7 +73,8 @@ The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 * A plugin for the [`pg` gem](https://rubygems.org/gems/pg) that adds support for [IAM authentication](https://docs.aws.amazon.com/AmazonRDS/latest/UserGuide/UsingWithRDS.IAMDBAuth.html) when connecting to PostgreSQL databases hosted in Amazon RDS. ([#1](https://github.com/haines/pg-aws_rds_iam/pull/1))
 * ActiveRecord support. ([#3](https://github.com/haines/pg-aws_rds_iam/pull/3))
 
-[Unreleased]: https://github.com/haines/pg-aws_rds_iam/compare/v0.4.2...HEAD
+[Unreleased]: https://github.com/haines/pg-aws_rds_iam/compare/v0.5.0...HEAD
+[0.5.0]: https://github.com/haines/pg-aws_rds_iam/compare/v0.4.2...v0.5.0
 [0.4.2]: https://github.com/haines/pg-aws_rds_iam/compare/v0.4.1...v0.4.2
 [0.4.1]: https://github.com/haines/pg-aws_rds_iam/compare/v0.4.0...v0.4.1
 [0.4.0]: https://github.com/haines/pg-aws_rds_iam/compare/v0.3.2...v0.4.0
diff --git a/Gemfile.lock b/Gemfile.lock
index 51c175d..150aacc 100644
--- a/Gemfile.lock
+++ b/Gemfile.lock
@@ -1,7 +1,7 @@
 PATH
   remote: .
   specs:
-    pg-aws_rds_iam (0.4.2)
+    pg-aws_rds_iam (0.5.0)
       aws-sdk-rds (~> 1.0)
       pg (~> 1.1)
 
diff --git a/lib/pg/aws_rds_iam/version.rb b/lib/pg/aws_rds_iam/version.rb
index 611cbe9..3e32188 100644
--- a/lib/pg/aws_rds_iam/version.rb
+++ b/lib/pg/aws_rds_iam/version.rb
@@ -3,6 +3,6 @@
 module PG
   module AWS_RDS_IAM
     # The current version of the gem.
-    VERSION = "0.4.2"
+    VERSION = "0.5.0"
   end
 end