diff --git a/CMakeLists.txt b/CMakeLists.txt
index 1d119e5e9d044addd7f7e1d638afb48b40d8d4e7..78b362295240e8a52d3b5a50016be0b0aa66af9e 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -1,5 +1,5 @@
 cmake_minimum_required(VERSION 3.9)
-project(iMSTK VERSION 4.0.0 LANGUAGES C CXX)
+project(iMSTK VERSION 5.0.0 LANGUAGES C CXX)
 
 if(UNIX AND NOT APPLE)
   set(LINUX TRUE)
diff --git a/Docs/source/conf.py b/Docs/source/conf.py
index 74b3c7b2d420fe0556eadd34a4bd25bd46fe94ea..f6f8dc35a8356f6f303dd81ae7ef7078bf7add94 100644
--- a/Docs/source/conf.py
+++ b/Docs/source/conf.py
@@ -56,9 +56,9 @@ author = 'Andrew Wilson, Venkata S. Arikatla'
 # built documents.
 #
 # The short X.Y version.
-version = '4.0.0'
+version = '5.0.0'
 # The full version, including alpha/beta/rc tags.
-release = '4.0.0'
+release = '5.0.0'
 
 # The language for content autogenerated by Sphinx. Refer to documentation
 # for a list of supported languages.