diff --git a/.circleci/config.yml b/.circleci/config.yml
index 8714a60e32107..b4fc0ca9fa6d7 100644
--- a/.circleci/config.yml
+++ b/.circleci/config.yml
@@ -95,7 +95,7 @@ commands:
 jobs:
   build:
     docker:
-      - image: argoproj/argocd-test-tools:v0.4.0
+      - image: argoproj/argocd-test-tools:v0.5.0
     working_directory: /go/src/github.com/argoproj/argo-cd
     steps:
       - prepare_environment
@@ -115,7 +115,7 @@ jobs:
 
   codegen:
     docker:
-      - image: argoproj/argocd-test-tools:v0.4.0
+      - image: argoproj/argocd-test-tools:v0.5.0
     working_directory: /go/src/github.com/argoproj/argo-cd
     steps:
       - prepare_environment
@@ -138,7 +138,7 @@ jobs:
   test:
     working_directory: /go/src/github.com/argoproj/argo-cd
     docker:
-      - image: argoproj/argocd-test-tools:v0.4.0
+      - image: argoproj/argocd-test-tools:v0.5.0
     steps:
       - prepare_environment
       - checkout
@@ -165,7 +165,7 @@ jobs:
   lint:
     working_directory: /go/src/github.com/argoproj/argo-cd
     docker:
-      - image: argoproj/argocd-test-tools:v0.4.0
+      - image: argoproj/argocd-test-tools:v0.5.0
     steps:
       - prepare_environment
       - checkout
@@ -194,7 +194,7 @@ jobs:
   sonarcloud:
     working_directory: /go/src/github.com/argoproj/argo-cd
     docker:
-      - image: argoproj/argocd-test-tools:v0.4.0
+      - image: argoproj/argocd-test-tools:v0.5.0
     environment:
       NODE_MODULES: /go/src/github.com/argoproj/argo-cd/ui/node_modules
     steps:
diff --git a/Makefile b/Makefile
index 332bf708f1992..afc8400cec84f 100644
--- a/Makefile
+++ b/Makefile
@@ -22,7 +22,7 @@ ARGOCD_PROCFILE?=Procfile
 # Configuration for building argocd-test-tools image
 TEST_TOOLS_NAMESPACE?=argoproj
 TEST_TOOLS_IMAGE=argocd-test-tools
-TEST_TOOLS_TAG?=v0.4.0
+TEST_TOOLS_TAG?=v0.5.0
 ifdef TEST_TOOLS_NAMESPACE
 TEST_TOOLS_PREFIX=${TEST_TOOLS_NAMESPACE}/
 endif