diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4f2bd6d..c260225 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,11 @@
 # Changelog
 
+### 0.5.0
+
+* Added Pydantic v2 support
+* Removed Pydantic v1 support
+* Removed `PydanticPanel`
+
 ### 0.4.0
 
 * Fixed middleware `url_path_for`
diff --git a/debug_toolbar/__init__.py b/debug_toolbar/__init__.py
index 6a9beea..3d18726 100644
--- a/debug_toolbar/__init__.py
+++ b/debug_toolbar/__init__.py
@@ -1 +1 @@
-__version__ = "0.4.0"
+__version__ = "0.5.0"