diff --git a/cluster-autoscaler/version.go b/cluster-autoscaler/version.go
index 7f1b73082b..a91227ae80 100644
--- a/cluster-autoscaler/version.go
+++ b/cluster-autoscaler/version.go
@@ -17,4 +17,4 @@ limitations under the License.
 package main
 
 // ClusterAutoscalerVersion contains version of CA.
-const ClusterAutoscalerVersion = "0.5.0"
+const ClusterAutoscalerVersion = "0.5.1"