diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index da59f99e..2aca35ae 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,3 +1,3 @@
 {
-  ".": "0.4.0"
+  ".": "0.5.0"
 }
\ No newline at end of file
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 59d324d6..48e4da5a 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,13 @@
 # Changelog
 
+## [0.5.0](https://github.com/open-feature/ruby-sdk/compare/v0.4.0...v0.5.0) (2025-10-31)
+
+
+### Features
+
+* Add runtime type validation for default values in flag evaluation methods ([#194](https://github.com/open-feature/ruby-sdk/issues/194)) ([dc56c76](https://github.com/open-feature/ruby-sdk/commit/dc56c76f987c16b22a284513b7d0f383d38a0198))
+* Add setProviderAndWait method for blocking provider initialization ([#200](https://github.com/open-feature/ruby-sdk/issues/200)) ([d92eabc](https://github.com/open-feature/ruby-sdk/commit/d92eabcb54335e21522cea0d6b10be3e842ce8e2))
+
 ## [0.4.0](https://github.com/open-feature/ruby-sdk/compare/v0.3.1...v0.4.0) (2024-06-13)