diff --git a/chart/jenkins-operator/Chart.yaml b/chart/jenkins-operator/Chart.yaml
index 9efe98d8..2f40401e 100644
--- a/chart/jenkins-operator/Chart.yaml
+++ b/chart/jenkins-operator/Chart.yaml
@@ -1,6 +1,6 @@
 apiVersion: v2
-appVersion: "0.4.0"
+appVersion: "0.5.0"
 description: Kubernetes native operator which fully manages Jenkins on Kubernetes
 name: jenkins-operator
-version: 0.3.4
+version: 0.4.0
 icon: https://raw.githubusercontent.com/jenkinsci/kubernetes-operator/master/assets/jenkins-operator-icon.png
diff --git a/chart/jenkins-operator/values.yaml b/chart/jenkins-operator/values.yaml
index 570fc876..be0e2be7 100644
--- a/chart/jenkins-operator/values.yaml
+++ b/chart/jenkins-operator/values.yaml
@@ -234,7 +234,7 @@ operator:
   replicaCount: 1
 
   # image is the name (and tag) of the Jenkins Operator image
-  image: virtuslab/jenkins-operator:v0.4.0
+  image: virtuslab/jenkins-operator:v0.5.0
 
   # imagePullPolicy defines policy for pulling images
   imagePullPolicy: IfNotPresent