diff --git a/vllm/__init__.py b/vllm/__init__.py
index dc59bf4a8193..10cc66941a7f 100644
--- a/vllm/__init__.py
+++ b/vllm/__init__.py
@@ -12,7 +12,7 @@ from vllm.outputs import (CompletionOutput, EmbeddingOutput,
 from vllm.pooling_params import PoolingParams
 from vllm.sampling_params import SamplingParams
 
-__version__ = "0.4.3"
+__version__ = "0.5.0"
 
 __all__ = [
     "LLM",