diff --git a/docs/source/conf.py b/docs/source/conf.py
index a02711373b3..00b6236806c 100644
--- a/docs/source/conf.py
+++ b/docs/source/conf.py
@@ -25,7 +25,7 @@
 author = "huggingface"
 
 # The short X.Y version
-version = "0.5.0.dev0"
+version = "0.5.0"
 
 # -- General configuration ---------------------------------------------------
 
diff --git a/setup.py b/setup.py
index 0fb6cd85104..17b71824ad9 100644
--- a/setup.py
+++ b/setup.py
@@ -37,7 +37,7 @@
 
 setup(
     name="accelerate",
-    version="0.5.0.dev0",
+    version="0.5.0",
     description="Accelerate",
     long_description=open("README.md", "r", encoding="utf-8").read(),
     long_description_content_type="text/markdown",
diff --git a/src/accelerate/__init__.py b/src/accelerate/__init__.py
index 185f33240bd..5ef83962a8c 100644
--- a/src/accelerate/__init__.py
+++ b/src/accelerate/__init__.py
@@ -2,7 +2,7 @@
 # There's no way to ignore "F401 '...' imported but unused" warnings in this
 # module, but to preserve other warnings. So, don't check this module at all.
 
-__version__ = "0.5.0.dev0"
+__version__ = "0.5.0"
 
 from .accelerator import Accelerator
 from .kwargs_handlers import DistributedDataParallelKwargs, GradScalerKwargs