diff --git a/docs/conf.py b/docs/conf.py
index dbed6a33..a3fb3f8f 100644
--- a/docs/conf.py
+++ b/docs/conf.py
@@ -34,8 +34,8 @@
 copyright = '2017, OASIS Open'
 author = 'OASIS Open'
 
-version = '0.4.0'
-release = '0.4.0'
+version = '0.5.0'
+release = '0.5.0'
 
 language = None
 exclude_patterns = ['_build', '_templates', 'Thumbs.db', '.DS_Store', 'guide/.ipynb_checkpoints']
diff --git a/setup.cfg b/setup.cfg
index 76162b58..0cd287cf 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 0.4.0
+current_version = 0.5.0
 commit = True
 tag = True
 
diff --git a/stix2/version.py b/stix2/version.py
index 6a9beea8..3d187266 100644
--- a/stix2/version.py
+++ b/stix2/version.py
@@ -1 +1 @@
-__version__ = "0.4.0"
+__version__ = "0.5.0"