diff --git a/CHANGELOG b/CHANGELOG
index bfa46212..d4d6fdb0 100644
--- a/CHANGELOG
+++ b/CHANGELOG
@@ -1,3 +1,49 @@
+v1.5.0
+------
+
+17 April 2021
+
+This release marks the end of OSPD specification v2.1.6 support. Post this
+release, LibOSDP would start supporting new features added in IEC Edition 1.0
+specification.
+
+Features:
+  - libosdp: Introduce a lean-build system
+  - tests: Add a command level unit test executor
+  - libosdp: Add new command complete callback
+
+Enhancements:
+  - libosdp: Add cmake option CONFIG_OSDP_STATIC_PD (configure --static-pd)
+  - pd: Use better NAK error code when rejecting a command due to SC inactive
+  - LibOSDP: Split build/send and receive/decode methods
+  - Add new typedef and document osdp_log_fn_t
+  - Remove implicit logging via printf()
+  - Avoid allocs by switching log buf to static char[]
+  - Add compile time switch to disable colours in osdp logs
+  - Add Makefile target to clone utils submodules at init
+  - phy: Allow non-conformant, 0 length, encrypted data blocks
+  - cp: Add bounded exponential back-off for offline retries
+  - cp: Add detection of a busy reply with sequence number 0
+  - Mark some methods with __weak for portability
+
+Fixes:
+  - Clean src/osdp_cp.o even if it is not built due to --single-pd
+  - Just fix the description comment for OSDP_PD_NAK_SEQ_NUM
+  - Call osdp_logger_init() before setting up CP/PD for early logging
+  - Fix off-by-one at vsnprintf()'s return value assertion
+  - Move osdp_millis_*() into utils::utils.c
+  - Move unistd.h into CONFIG_DISABLE_PRETTY_LOGGING guard
+  - Enable github workflows on lean build to keep them in sync
+  - Fix coverity identified off-by-one out-of-bound array access
+  - Fix coverity identified logical dead-code
+  - sc: Fix potential out-of-bound buffer access
+  - cp: Bypass unneeded packet decoding for a busy reply
+  - cp: Don't regenerate random numbers for the challenge command
+  - cp: Add the OSDP_ONLINE_RETRY_WAIT_MS timeout
+  - pd: Fix device capabilities report
+  - Call to osdp_dump was using incorrect length
+
+
 v1.4.0
 ------
 
diff --git a/CMakeLists.txt b/CMakeLists.txt
index 12325956..942e9e4d 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -7,7 +7,7 @@
 cmake_minimum_required(VERSION 3.0 FATAL_ERROR)
 cmake_policy(SET CMP0063 NEW)
 
-project(libosdp VERSION 1.4.0)
+project(libosdp VERSION 1.5.0)
 
 set(PROJECT_AUTHOR       "Siddharth Chandrasekaran")
 set(PROJECT_AUTHOR_EMAIL "siddharth@embedjournal.com")