diff --git a/CHANGELOG.md b/CHANGELOG.md
index 6c54b808..80701e78 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,67 @@
 # Optimizely Ruby SDK Changelog
 
+## 5.0.0
+January 18th, 2024
+
+### New Features
+
+The 5.0.0 release introduces a new primary feature, [Advanced Audience Targeting]( https://docs.developers.optimizely.com/feature-experimentation/docs/optimizely-data-platform-advanced-audience-targeting) enabled through integration with [Optimizely Data Platform (ODP)](https://docs.developers.optimizely.com/optimizely-data-platform/docs)
+([#303](https://github.com/optimizely/ruby-sdk/pull/303),
+[#308](https://github.com/optimizely/ruby-sdk/pull/308),
+[#310](https://github.com/optimizely/ruby-sdk/pull/310),
+[#311](https://github.com/optimizely/ruby-sdk/pull/311),
+[#312](https://github.com/optimizely/ruby-sdk/pull/312),
+[#314](https://github.com/optimizely/ruby-sdk/pull/314),
+[#316](https://github.com/optimizely/ruby-sdk/pull/316)).
+You can use ODP, a high-performance [Customer Data Platform (CDP)]( https://www.optimizely.com/optimization-glossary/customer-data-platform/), to easily create complex real-time segments (RTS) using first-party and 50+ third-party data sources out of the box. You can create custom schemas that support the user attributes important for your business, and stitch together user behavior done on different devices to better understand and target your customers for personalized user experiences. ODP can be used as a single source of truth for these segments in any Optimizely or 3rd party tool.
+
+With ODP accounts integrated into Optimizely projects, you can build audiences using segments pre-defined in ODP. The SDK will fetch the segments for given users and make decisions using the segments. For access to ODP audience targeting in your Feature Experimentation account, please contact your Optimizely Customer Success Manager.
+
+This version includes the following changes:
+
+* New API added to `OptimizelyUserContext`:
+
+    * `fetch_qualified_segments()`: this API will retrieve user segments from the ODP server. The fetched segments will be used for audience evaluation. The fetched data will be stored in the local cache to avoid repeated network delays.
+
+    * When an `OptimizelyUserContext` is created, the SDK will automatically send an identify request to the ODP server to facilitate observing user activities.
+
+* New APIs added to `Optimizely::Project`:
+
+    * `send_odp_event()`: customers can build/send arbitrary ODP events that will bind user identifiers and data to user profiles in ODP.
+
+For details, refer to our documentation pages:
+
+* [Advanced Audience Targeting](https://docs.developers.optimizely.com/feature-experimentation/docs/optimizely-data-platform-advanced-audience-targeting)
+
+* [Server SDK Support](https://docs.developers.optimizely.com/feature-experimentation/v1.0/docs/advanced-audience-targeting-for-server-side-sdks)
+
+* [Initialize Ruby SDK](https://docs.developers.optimizely.com/feature-experimentation/docs/initialize-sdk-ruby)
+
+* [OptimizelyUserContext Ruby SDK](https://docs.developers.optimizely.com/feature-experimentation/docs/optimizelyusercontext-ruby)
+
+* [Advanced Audience Targeting segment qualification methods](https://docs.developers.optimizely.com/feature-experimentation/docs/advanced-audience-targeting-segment-qualification-methods-ruby)
+
+* [Send Optimizely Data Platform data using Advanced Audience Targeting](https://docs.developers.optimizely.com/feature-experimentation/docs/send-odp-data-using-advanced-audience-targeting-ruby)
+
+### Logging
+
+* Add warning to polling intervals below 30 seconds ([#338](https://github.com/optimizely/ruby-sdk/pull/338))
+* Add warning to duplicate experiment keys ([#343](https://github.com/optimizely/ruby-sdk/pull/343))
+
+### Enhancements
+* Removed polling config manager stop restriction, allowing it to be restarted ([#340](https://github.com/optimizely/ruby-sdk/pull/340)).
+* Include object id/key in invalid object errors ([#301](https://github.com/optimizely/ruby-sdk/pull/301)).
+
+### Breaking Changes
+
+* Updated required Ruby version from 2.7 -> 3.0
+* `Optimizely::Project` initialization arguments have been changed from positional to keyword ([#342](https://github.com/optimizely/ruby-sdk/pull/342)).
+* `ODPManager` in the SDK is enabled by default. Unless an ODP account is integrated into the Optimizely projects, most `ODPManager` functions will be ignored. If needed, `ODPManager` can be disabled when `Optimizely::Project` is instantiated.
+
+* `ProjectConfigManager` interface now requires a `sdk_key` method ([#323](https://github.com/optimizely/ruby-sdk/pull/323)).
+* `HTTPProjectConfigManager` requires either the `sdk_key` parameter or a datafile containing an sdkKey ([#323](https://github.com/optimizely/ruby-sdk/pull/323)).
+* `BatchEventProcessor` is now the default `EventProcessor` when `Optimizely::Project` is instantiated ([#325](https://github.com/optimizely/ruby-sdk/pull/325)).
+
 ## 5.0.0-beta
 April 28th, 2023
 
diff --git a/LICENSE b/LICENSE
index 006d13d5..e2d14477 100644
--- a/LICENSE
+++ b/LICENSE
@@ -187,7 +187,7 @@
       same "printed page" as the copyright notice for easier
       identification within third-party archives.
 
-   Copyright 2016, Optimizely and contributors
+   © Optimizely 2016
 
    Licensed under the Apache License, Version 2.0 (the "License");
    you may not use this file except in compliance with the License.
diff --git a/lib/optimizely/version.rb b/lib/optimizely/version.rb
index 43d4f749..ae357133 100644
--- a/lib/optimizely/version.rb
+++ b/lib/optimizely/version.rb
@@ -17,5 +17,5 @@
 #
 module Optimizely
   CLIENT_ENGINE = 'ruby-sdk'
-  VERSION = '5.0.0-beta'
+  VERSION = '5.0.0'
 end