diff --git a/CMakeLists.txt b/CMakeLists.txt
index b790cf42a69..6aec5f45e58 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -6,9 +6,9 @@ cmake_policy(SET CMP0069 NEW)
 set(CMAKE_POLICY_DEFAULT_CMP0069 NEW)
 
 # Fluent Bit Version
-set(FLB_VERSION_MAJOR  4)
-set(FLB_VERSION_MINOR  2)
-set(FLB_VERSION_PATCH  3)
+set(FLB_VERSION_MAJOR  5)
+set(FLB_VERSION_MINOR  0)
+set(FLB_VERSION_PATCH  0)
 set(FLB_VERSION_STR "${FLB_VERSION_MAJOR}.${FLB_VERSION_MINOR}.${FLB_VERSION_PATCH}")
 
 set(CMAKE_POSITION_INDEPENDENT_CODE ON)
diff --git a/README.md b/README.md
index 8574e10b409..73c28a7c50a 100644
--- a/README.md
+++ b/README.md
@@ -26,7 +26,7 @@ Fluent Bit supports a wide array of platforms, including Linux, Windows, MacOS,
 ## 📌 Roadmap & Maintenance
 
 We follow a fast-paced development cycle, with major releases every 3–4 months.
-The active development branch (`master`) is currently focused on **v4.2**.
+The active development branch (`master`) is currently focused on **v5.0** (development).
 
 For version-specific maintenance timelines and policies, see our [MAINTENANCE.md](https://github.com/fluent/fluent-bit/blob/master/MAINTENANCE.md).
 
diff --git a/fluent-bit-4.2.3.bb b/fluent-bit-5.0.0.bb
similarity index 99%
rename from fluent-bit-4.2.3.bb
rename to fluent-bit-5.0.0.bb
index 1ceef87f0b1..e5adfe94cc4 100644
--- a/fluent-bit-4.2.3.bb
+++ b/fluent-bit-5.0.0.bb
@@ -16,7 +16,7 @@ LIC_FILES_CHKSUM = "file://LICENSE;md5=2ee41112a44fe7014dce33e26468ba93"
 SECTION = "net"
 
 PR = "r0"
-PV = "4.2.3"
+PV = "5.0.0"
 
 SRCREV = "v${PV}"
 SRC_URI = "git://github.com/fluent/fluent-bit.git;nobranch=1"
diff --git a/snap/snapcraft.yaml b/snap/snapcraft.yaml
index fb7c5ced9e1..b9f8a647df8 100644
--- a/snap/snapcraft.yaml
+++ b/snap/snapcraft.yaml
@@ -1,6 +1,6 @@
 name: fluent-bit
 base: core20
-version: '4.2.3'
+version: '5.0.0'
 summary: High performance logs and stream processor
 description: |
   Fluent Bit is a high performance log processor and stream processor for Linux.