diff --git a/docs/docs/user/changelog.md b/docs/docs/user/changelog.md
index 25dddf8f3..1648da8a2 100644
--- a/docs/docs/user/changelog.md
+++ b/docs/docs/user/changelog.md
@@ -1,4 +1,20 @@
 # Changelog
+## [5.0.0](https://github.com/bakdata/kpops/releases/tag/5.0.0) - Release Date: [2024-05-02]
+
+### 🏗️ Breaking changes
+
+- Allow custom timeout for external services - [#485](https://github.com/bakdata/kpops/pull/485)
+
+
+### 🌀 Miscellaneous
+
+- Update examples for v4 - [#486](https://github.com/bakdata/kpops/pull/486)
+
+
+
+
+
+
 ## [4.2.1](https://github.com/bakdata/kpops/releases/tag/4.2.1) - Release Date: [2024-04-25]
 
 ### 🚀 Features
diff --git a/kpops/__init__.py b/kpops/__init__.py
index f10060349..3d3fa15df 100644
--- a/kpops/__init__.py
+++ b/kpops/__init__.py
@@ -1,4 +1,4 @@
-__version__ = "4.2.1"
+__version__ = "5.0.0"
 
 # export public API functions
 from kpops.cli.main import clean, deploy, destroy, generate, init, manifest, reset
diff --git a/pyproject.toml b/pyproject.toml
index 17a6526f4..971161891 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "kpops"
-version = "4.2.1"
+version = "5.0.0"
 description = "KPOps is a tool to deploy Kafka pipelines to Kubernetes"
 authors = ["bakdata <opensource@bakdata.com>"]
 license = "MIT"