diff --git a/CHANGELOG-1.x.md b/CHANGELOG-1.x.md
index ba69b0387..aaabd3bcc 100644
--- a/CHANGELOG-1.x.md
+++ b/CHANGELOG-1.x.md
@@ -1,3 +1,6 @@
+# V1.5.0
+* Upgrade to latest sidecars versions
+* Upgrade AL2 version and address CVEs (CVE-2021-4217, CVE-2022-0529, CVE-2022-0530, CVE-2022-4141, CVE-2023-0049, CVE-2022-45061, CVE-2022-27781, CVE-2022-23521, CVE-2021-46848, CVE-2022-4292, CVE-2022-43551, CVE-2022-35737, CVE-2022-42898, CVE-2022-41903)
 # V1.4.9
 * Bumped up the sidecars version
 * Fixed-AWS EFS CSI Driver crashes if Access Point creation fails and static GID set
diff --git a/Makefile b/Makefile
index f9ab5407f..9e80ed55c 100644
--- a/Makefile
+++ b/Makefile
@@ -13,7 +13,7 @@
 # limitations under the License.
 #
 
-VERSION=v1.4.9
+VERSION=v1.5.0
 
 PKG=github.com/kubernetes-sigs/aws-efs-csi-driver
 GIT_COMMIT?=$(shell git rev-parse HEAD)
diff --git a/docs/README.md b/docs/README.md
index 26eba3caf..818f169e0 100644
--- a/docs/README.md
+++ b/docs/README.md
@@ -74,6 +74,7 @@ The following sections are Kubernetes specific. If you are a Kubernetes user, us
 | EFS CSI Driver Version | Image                            |
 |------------------------|----------------------------------|
 | master branch          | amazon/aws-efs-csi-driver:master |
+| v1.5.0                 | amazon/aws-efs-csi-driver:v1.5.0 |
 | v1.4.9                 | amazon/aws-efs-csi-driver:v1.4.9 |
 | v1.4.8                 | amazon/aws-efs-csi-driver:v1.4.8 |
 | v1.4.7                 | amazon/aws-efs-csi-driver:v1.4.7 |