diff --git a/setup.py b/setup.py
index d568ab3b..09503ee9 100644
--- a/setup.py
+++ b/setup.py
@@ -98,7 +98,7 @@ def build_extensions(self):
     author='Yury Selivanov',
     author_email='yury@magic.io',
     platforms=['*nix'],
-    version='0.4.34',
+    version='0.5.0',
     packages=['uvloop'],
     cmdclass={'build_ext': libuv_build_ext},
     ext_modules=[