diff --git a/.gitignore b/.gitignore
index cb39c22..f284635 100644
--- a/.gitignore
+++ b/.gitignore
@@ -24,3 +24,4 @@ typeid-*.tar
 
 # Temporary files, for example, from tests.
 /tmp/
+/.elixir-tools
diff --git a/CHANGELOG.md b/CHANGELOG.md
index ac685d6..824beba 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,6 +1,6 @@
 # Changelog
 
-## main
+## 0.5.0
 
 - `Ecto.ParameterizedType` implementation traverses associations so prefixes only need to be defined on schema primary keys
 - `Ecto.ParameterizedType` implementation `type` option can be set globally with a `default_type` Application configuration
diff --git a/README.md b/README.md
index 432c812..63f4b0b 100644
--- a/README.md
+++ b/README.md
@@ -13,7 +13,7 @@ The package can be installed from [hex](https://hex.pm/packages/typeid_elixir) b
 ```elixir
 def deps do
   [
-    {:typeid_elixir, "~> 0.4.0"}
+    {:typeid_elixir, "~> 0.5.0"}
   ]
 end
 ```
diff --git a/mix.exs b/mix.exs
index 31c818e..ffad24c 100644
--- a/mix.exs
+++ b/mix.exs
@@ -1,7 +1,7 @@
 defmodule TypeID.MixProject do
   use Mix.Project
 
-  @version "0.4.0"
+  @version "0.5.0"
 
   def project do
     [