diff --git a/docs/source/conf.py b/docs/source/conf.py
index 4e46e5813..fb9fc4c86 100644
--- a/docs/source/conf.py
+++ b/docs/source/conf.py
@@ -65,7 +65,7 @@
 # The short X.Y version.
 version = '5.0'
 # The full version, including alpha/beta/rc tags.
-release = '5.0.34'
+release = '5.1.0'
 
 # The language for content autogenerated by Sphinx. Refer to documentation
 # for a list of supported languages.
diff --git a/pyproject.toml b/pyproject.toml
index 592b83ee2..89872ae3d 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "pysnmp"
-version = "5.0.34"
+version = "5.1.0"
 description = ""
 authors = ["Ilya Etingof <etingof@gmail.com>", "LeXtudio Inc. <support@lextudio.com>"]
 license = "BSD-2-Clause"
diff --git a/pysnmp/__init__.py b/pysnmp/__init__.py
index d4ca36ba7..d809144d7 100644
--- a/pysnmp/__init__.py
+++ b/pysnmp/__init__.py
@@ -1,5 +1,5 @@
 # http://www.python.org/dev/peps/pep-0396/
-__version__ = '5.0.34'
+__version__ = '5.1.0'
 # another variable is required to prevent semantic release from updating version in more than one place
 main_version = __version__
 # backward compatibility