diff --git a/CMakeLists.txt b/CMakeLists.txt
index cf99dd83ce218..bb9617c7c1837 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -8,7 +8,7 @@ project(taichi)
 
 SET(TI_VERSION_MAJOR 0)
 SET(TI_VERSION_MINOR 5)
-SET(TI_VERSION_PATCH 13)
+SET(TI_VERSION_PATCH 14)
 
 execute_process(
   WORKING_DIRECTORY ${CMAKE_SOURCE_DIR}
diff --git a/README.md b/README.md
index 60245da996fe9..257e34d89b4e1 100644
--- a/README.md
+++ b/README.md
@@ -22,7 +22,7 @@ Advanced features of Taichi include [spatially sparse computing](https://taichi.
 ## Installation [![Downloads](https://pepy.tech/badge/taichi-nightly)](https://pepy.tech/project/taichi-nightly)
 
 ```bash
-python3 -m pip install taichi       # Latest version: 0.5.13
+python3 -m pip install taichi       # Latest version: 0.5.14
 ```
 **Supported OS**: Windows, Linux, Mac OS X; **Python**: 3.6, 3.7, 3.8; **Backends**: x64 CPUs, CUDA, Apple Metal.
 
diff --git a/docs/version b/docs/version
index 964783a811942..83ac1cc02fe62 100644
--- a/docs/version
+++ b/docs/version
@@ -1 +1 @@
-0.5.13
+0.5.14