diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index 0adc66ce62..448138d531 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1 +1 @@
-{".":"0.4.6","ts":"0.4.6"}
\ No newline at end of file
+{".":"0.5.0","ts":"0.5.0"}
\ No newline at end of file
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 79339a20a8..76fe59e14c 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,22 @@
 # Changelog
 
+## [0.5.0](https://github.com/AztecProtocol/barretenberg/compare/barretenberg-v0.4.6...barretenberg-v0.5.0) (2023-09-01)
+
+
+### ⚠ BREAKING CHANGES
+
+* update to acvm 0.24.0 ([#1925](https://github.com/AztecProtocol/barretenberg/issues/1925))
+
+### Bug Fixes
+
+* Benchmark preset uses clang16 ([#1902](https://github.com/AztecProtocol/barretenberg/issues/1902)) ([cd0ff0e](https://github.com/AztecProtocol/barretenberg/commit/cd0ff0e2c049917ec47a110b45d76bed4c00ae2a))
+* Reset keccak var inputs to 0 ([#1881](https://github.com/AztecProtocol/barretenberg/issues/1881)) ([23011ee](https://github.com/AztecProtocol/barretenberg/commit/23011ee1ea7f1b00b0f4194ebceedc75ea01c157))
+
+
+### Miscellaneous Chores
+
+* Update to acvm 0.24.0 ([#1925](https://github.com/AztecProtocol/barretenberg/issues/1925)) ([5d8db8e](https://github.com/AztecProtocol/barretenberg/commit/5d8db8eb993334b43e24a51efba9c59e123320ab))
+
 ## [0.4.6](https://github.com/AztecProtocol/barretenberg/compare/barretenberg-v0.4.5...barretenberg-v0.4.6) (2023-08-29)
 
 
diff --git a/VERSION b/VERSION
index 17fe4efbb7..d20dbcc137 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-v0.4.6 x-release-please-version
+v0.5.0 x-release-please-version
diff --git a/barretenberg-wasm.nix b/barretenberg-wasm.nix
index e5efdc0568..def57e2d87 100644
--- a/barretenberg-wasm.nix
+++ b/barretenberg-wasm.nix
@@ -6,7 +6,7 @@ in
 stdenv.mkDerivation
 {
   pname = "barretenberg.wasm";
-  version = "0.4.6"; # x-release-please-version
+  version = "0.5.0"; # x-release-please-version
 
   src = ./cpp;
 
diff --git a/barretenberg.nix b/barretenberg.nix
index 0007c5d209..7e16af818a 100644
--- a/barretenberg.nix
+++ b/barretenberg.nix
@@ -14,7 +14,7 @@ in
 buildEnv.mkDerivation
 {
   pname = "libbarretenberg";
-  version = "0.4.6"; # x-release-please-version
+  version = "0.5.0"; # x-release-please-version
 
   src = ./cpp;
 
diff --git a/cpp/CMakeLists.txt b/cpp/CMakeLists.txt
index 6eecea9a54..9250452698 100644
--- a/cpp/CMakeLists.txt
+++ b/cpp/CMakeLists.txt
@@ -6,7 +6,7 @@ cmake_minimum_required(VERSION 3.24)
 project(
     Barretenberg
     DESCRIPTION "BN254 elliptic curve library, and PLONK SNARK prover"
-    VERSION 0.4.6 # x-release-please-version
+    VERSION 0.5.0 # x-release-please-version
     LANGUAGES CXX C
 )
 
diff --git a/ts/CHANGELOG.md b/ts/CHANGELOG.md
index 7d7dea917a..4fb66eb136 100644
--- a/ts/CHANGELOG.md
+++ b/ts/CHANGELOG.md
@@ -1,5 +1,16 @@
 # Changelog
 
+## [0.5.0](https://github.com/AztecProtocol/barretenberg/compare/barretenberg.js-v0.4.6...barretenberg.js-v0.5.0) (2023-09-01)
+
+
+### ⚠ BREAKING CHANGES
+
+* update to acvm 0.24.0 ([#1925](https://github.com/AztecProtocol/barretenberg/issues/1925))
+
+### Miscellaneous Chores
+
+* Update to acvm 0.24.0 ([#1925](https://github.com/AztecProtocol/barretenberg/issues/1925)) ([5d8db8e](https://github.com/AztecProtocol/barretenberg/commit/5d8db8eb993334b43e24a51efba9c59e123320ab))
+
 ## [0.4.6](https://github.com/AztecProtocol/barretenberg/compare/barretenberg.js-v0.4.5...barretenberg.js-v0.4.6) (2023-08-29)
 
 
diff --git a/ts/package.json b/ts/package.json
index 4c36557654..310398c695 100644
--- a/ts/package.json
+++ b/ts/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@aztec/bb.js",
-  "version": "0.4.6",
+  "version": "0.5.0",
   "homepage": "https://github.com/AztecProtocol/aztec-packages/tree/master/circuits/cpp/barretenberg/ts",
   "license": "MIT",
   "type": "module",