diff --git a/CHANGELOG.md b/CHANGELOG.md
index 074f06fe2d..d40ff2c113 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,7 +5,7 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](http://keepachangelog.com/en/1.0.0/).
 
 
-## [unReleased] - 2021-MM-DD
+## [1.5.0] - 2021-MM-DD
 
 ### Added
 
diff --git a/pytorch_lightning/__about__.py b/pytorch_lightning/__about__.py
index 5bfc1ae6d3..6d6318dbc4 100644
--- a/pytorch_lightning/__about__.py
+++ b/pytorch_lightning/__about__.py
@@ -1,7 +1,7 @@
 import time
 
 _this_year = time.strftime("%Y")
-__version__ = "1.5.0dev"
+__version__ = "1.5.0rc0"
 __author__ = "William Falcon et al."
 __author_email__ = "waf2107@columbia.edu"
 __license__ = "Apache-2.0"