diff --git a/ansible_collections/arista/avd/galaxy.yml b/ansible_collections/arista/avd/galaxy.yml
index 0e081e1de5e..3c417a03912 100644
--- a/ansible_collections/arista/avd/galaxy.yml
+++ b/ansible_collections/arista/avd/galaxy.yml
@@ -9,7 +9,7 @@ namespace: arista
 name: avd
 
 # The version of the collection. Must be compatible with semantic versioning
-version: 5.0.0-dev9
+version: 5.0.0-rc1
 # The path to the Markdown (.md) readme file. This path is relative to the root of the collection
 readme: README.md
 
diff --git a/ansible_collections/arista/avd/requirements.txt b/ansible_collections/arista/avd/requirements.txt
index 18c2a249535..5fc6a445a2b 100644
--- a/ansible_collections/arista/avd/requirements.txt
+++ b/ansible_collections/arista/avd/requirements.txt
@@ -1,3 +1,3 @@
 # PyAVD must follow the exact same version as the Ansible collection.
 # For development this should be installed as an editable install as specified in requirement-dev.txt
-pyavd[ansible-collection]==5.0.0.dev9
+pyavd[ansible-collection]==5.0.0rc1
diff --git a/python-avd/pyavd/__init__.py b/python-avd/pyavd/__init__.py
index bde57ec9867..a2fa5073034 100644
--- a/python-avd/pyavd/__init__.py
+++ b/python-avd/pyavd/__init__.py
@@ -17,7 +17,7 @@
 __author__ = "Arista Networks"
 __copyright__ = "Copyright 2023-2024 Arista Networks"
 __license__ = "Apache 2.0"
-__version__ = "5.0.0.dev9"
+__version__ = "5.0.0rc1"
 
 __all__ = [
     "get_avd_facts",