diff --git a/docs/conf.py b/docs/conf.py
index e440019e8..f6e5d7956 100644
--- a/docs/conf.py
+++ b/docs/conf.py
@@ -21,7 +21,7 @@
 # The short X.Y version
 version = ''
 # The full version, including alpha/beta/rc tags
-release = '0.5.0'
+release = '0.5.1'
 
 extensions = [
     'sphinx.ext.napoleon',
diff --git a/qiskit_dynamics/VERSION.txt b/qiskit_dynamics/VERSION.txt
index 8f0916f76..4b9fcbec1 100644
--- a/qiskit_dynamics/VERSION.txt
+++ b/qiskit_dynamics/VERSION.txt
@@ -1 +1 @@
-0.5.0
+0.5.1