diff --git a/CHANGELOG.md b/CHANGELOG.md
index cb8ea576..932ef74f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,10 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+### Changed
+
+- Bumped Cilium to 0.5.0
+
 ## [0.6.0] - 2022-10-14
 
 ### Added
diff --git a/helm/default-apps-aws/values.yaml b/helm/default-apps-aws/values.yaml
index b4b30cf2..369e696c 100644
--- a/helm/default-apps-aws/values.yaml
+++ b/helm/default-apps-aws/values.yaml
@@ -101,7 +101,7 @@ apps:
     namespace: kube-system
     # used by renovate
     # repo: giantswarm/cilium-app
-    version: 0.4.2
+    version: 0.5.0
   externalDns:
     appName: external-dns
     chartName: external-dns-app