diff --git a/NEWS b/NEWS
index a4a264c3..3b0efadd 100644
--- a/NEWS
+++ b/NEWS
@@ -1,6 +1,7 @@
-* Version 5.1.1 (unreleased)
+* Version 5.1.1 (released 2023-04-27)
  ** Bugfix: PIV: string representation of SLOT caused infinite loop on Python <3.11.
  ** Bugfix: Fix errors in 'ykman config nfc' on YubiKeys without NFC capability.
+ ** Bugfix: Fix error message shown when invalid modhex input length given for YubiOTP.
 
 * Version 5.1.0 (released 2023-04-17)
  ** Add OpenPGP functionality to supported API.
diff --git a/man/ykman.1 b/man/ykman.1
index 70e989a3..8994ff64 100644
--- a/man/ykman.1
+++ b/man/ykman.1
@@ -1,4 +1,4 @@
-.TH YKMAN "1" "April 2023" "ykman 5.1.0" "User Commands"
+.TH YKMAN "1" "April 2023" "ykman 5.1.1" "User Commands"
 .SH NAME
 ykman \- YubiKey Manager (ykman)
 .SH SYNOPSIS
diff --git a/pyproject.toml b/pyproject.toml
index 367d8c47..1c85893c 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "yubikey-manager"
-version = "5.1.1-dev.0"
+version = "5.1.1"
 description = "Tool for managing your YubiKey configuration."
 authors = ["Dain Nilsson <dain@yubico.com>"]
 license = "BSD"
diff --git a/ykman/__init__.py b/ykman/__init__.py
index 132e97b9..3f07e162 100644
--- a/ykman/__init__.py
+++ b/ykman/__init__.py
@@ -25,4 +25,4 @@
 # ANY WAY OUT OF THE USE OF THIS SOFTWARE, EVEN IF ADVISED OF THE
 # POSSIBILITY OF SUCH DAMAGE.
 
-__version__ = "5.1.1-dev.0"
+__version__ = "5.1.1"