diff --git a/CHANGELOG.md b/CHANGELOG.md
index c973313..f2f28e5 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -6,6 +6,8 @@
 
 ## [Unreleased]
 
+## [0.8.0] - 2020-07-14
+
 ### Added
 * Monochrome (YUV400) support **
   * All encoding/decoding and internal memory savings are done/functional
@@ -451,7 +453,8 @@
 - Constants `AVIF_VERSION`, `AVIF_VERSION_MAJOR`, `AVIF_VERSION_MINOR`, `AVIF_VERSION_PATCH`
 - `avifVersion()` function
 
-[Unreleased]: https://github.com/AOMediaCodec/libavif/compare/v0.7.3...HEAD
+[Unreleased]: https://github.com/AOMediaCodec/libavif/compare/v0.8.0...HEAD
+[0.8.0]: https://github.com/AOMediaCodec/libavif/compare/v0.7.3...v0.8.0
 [0.7.3]: https://github.com/AOMediaCodec/libavif/compare/v0.7.2...v0.7.3
 [0.7.2]: https://github.com/AOMediaCodec/libavif/compare/v0.7.1...v0.7.2
 [0.7.1]: https://github.com/AOMediaCodec/libavif/compare/v0.7.0...v0.7.1
diff --git a/CMakeLists.txt b/CMakeLists.txt
index ab00970..8f4d278 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -7,7 +7,7 @@
 # and find_package()
 list(APPEND CMAKE_MODULE_PATH "${CMAKE_CURRENT_SOURCE_DIR}/cmake/Modules")
 
-project(libavif LANGUAGES C CXX VERSION 0.7.3)
+project(libavif LANGUAGES C CXX VERSION 0.8.0)
 
 # SOVERSION scheme: MAJOR.MINOR.PATCH
 #   If there was an incompatible interface change:
@@ -16,9 +16,9 @@
 #     Increment MINOR. Set PATCH to 0
 #   If the source code was changed, but there were no interface changes:
 #     Increment PATCH.
-set(LIBRARY_VERSION_MAJOR 4)
+set(LIBRARY_VERSION_MAJOR 5)
 set(LIBRARY_VERSION_MINOR 0)
-set(LIBRARY_VERSION_PATCH 1)
+set(LIBRARY_VERSION_PATCH 0)
 set(LIBRARY_VERSION "${LIBRARY_VERSION_MAJOR}.${LIBRARY_VERSION_MINOR}.${LIBRARY_VERSION_PATCH}")
 set(LIBRARY_SOVERSION ${LIBRARY_VERSION_MAJOR})
 
diff --git a/include/avif/avif.h b/include/avif/avif.h
index e62b2cd..9a6830c 100644
--- a/include/avif/avif.h
+++ b/include/avif/avif.h
@@ -15,8 +15,8 @@
 // Constants
 
 #define AVIF_VERSION_MAJOR 0
-#define AVIF_VERSION_MINOR 7
-#define AVIF_VERSION_PATCH 3
+#define AVIF_VERSION_MINOR 8
+#define AVIF_VERSION_PATCH 0
 #define AVIF_VERSION (AVIF_VERSION_MAJOR * 10000) + (AVIF_VERSION_MINOR * 100) + AVIF_VERSION_PATCH
 
 typedef int avifBool;