diff --git a/CHANGELOG.md b/CHANGELOG.md
index 54e9bb6..74fd1e2 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -8,6 +8,8 @@ and this project adheres to [Semantic Versioning](http://semver.org/).
 
 # [unreleased]
 
+# [v0.5.1] 2023-01-22
+
 ## Added
 
 - `time::cds::TimeProvider`
diff --git a/Cargo.toml b/Cargo.toml
index c3fa456..54d428e 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "spacepackets"
-version = "0.5.0"
+version = "0.5.1"
 edition = "2021"
 rust-version = "1.60"
 authors = ["Robin Mueller <muellerr@irs.uni-stuttgart.de>"]
diff --git a/release_checklist.md b/release_checklist.md
new file mode 100644
index 0000000..0310bd1
--- /dev/null
+++ b/release_checklist.md
@@ -0,0 +1,18 @@
+Checklist for new releases
+=======
+
+# Pre-Release
+
+1. Make sure any new modules are documented sufficiently enough and check docs with
+   `cargo doc --all-features --open`.
+2. Bump version specifier in `Cargo.toml`.
+3. Update `CHANGELOG.md`: Convert `unreleased` section into version section with date and add new
+   `unreleased` section.
+4. Run `cargo test --all-features`.
+5. Run `cargo fmt` and `cargo clippy`. Check `cargo msrv` against MSRV in `Cargo.toml`.
+6. Wait for CI/CD results for EGit and Github. These also check cross-compilation for bare-metal
+   targets.
+
+# Post-Release
+
+1. Create a new release on `EGit` based on the release branch.