diff --git a/README.md b/README.md
index 6cc80978dc..d905f5b8ae 100644
--- a/README.md
+++ b/README.md
@@ -199,7 +199,7 @@ To cite this repository:
   author = {Jonathan Heek and Anselm Levskaya and Avital Oliver and Marvin Ritter and Bertrand Rondepierre and Andreas Steiner and Marc van {Z}ee},
   title = {{F}lax: A neural network library and ecosystem for {JAX}},
   url = {http://github.com/google/flax},
-  version = {0.8.4},
+  version = {0.8.5},
   year = {2023},
 }
 ```
diff --git a/flax/version.py b/flax/version.py
index 46ae0cc6db..6370110c2a 100644
--- a/flax/version.py
+++ b/flax/version.py
@@ -13,4 +13,4 @@
 # limitations under the License.
 
 """Current Flax version at head on Github."""
-__version__ = '0.8.4'
+__version__ = '0.8.5'