diff --git a/doc/release/0.5.0-notes.rst b/doc/release/0.5.0-notes.rst
index a2d1aaf25..5ad92d63d 100644
--- a/doc/release/0.5.0-notes.rst
+++ b/doc/release/0.5.0-notes.rst
@@ -2,7 +2,6 @@
 PyWavelets 0.5.0 Release Notes
 ==============================
 
-.. note:: PyWavelets 0.5.0 is not released yet!
 .. |MATLAB|  unicode:: MATLAB U+02122 .. with trademark sign
 
 .. contents::
@@ -238,4 +237,4 @@ Pull requests for v0.5.0
 - `#229 <https://github.com/PyWavelets/pywt/pull/229>`__: DOC: add swtn, iswt, iswt2 to the API documentation
 - `#230 <https://github.com/PyWavelets/pywt/pull/230>`__: add demo of batch processing via concurrent.futures
 - `#234 <https://github.com/PyWavelets/pywt/pull/234>`__: ENH: coeffs_to_array supports axes argument as recently added to wavedec*
-- `#236 <https://github.com/PyWavelets/pywt/pull/236>`__: BLD: raise an ImportError if Cython should be installed but isn't.
\ No newline at end of file
+- `#236 <https://github.com/PyWavelets/pywt/pull/236>`__: BLD: raise an ImportError if Cython should be installed but isn't.
diff --git a/setup.py b/setup.py
index 69c1e9d93..9d8d0eb2a 100755
--- a/setup.py
+++ b/setup.py
@@ -26,7 +26,7 @@
 MAJOR = 0
 MINOR = 5
 MICRO = 0
-ISRELEASED = False
+ISRELEASED = True
 VERSION = '%d.%d.%d' % (MAJOR, MINOR, MICRO)