diff --git a/panel/package-lock.json b/panel/package-lock.json
index 948a319ddf..b1fa022780 100644
--- a/panel/package-lock.json
+++ b/panel/package-lock.json
@@ -1,12 +1,12 @@
 {
   "name": "@holoviz/panel",
-  "version": "1.5.0-b.8",
+  "version": "1.5.0-rc.0",
   "lockfileVersion": 3,
   "requires": true,
   "packages": {
     "": {
       "name": "@holoviz/panel",
-      "version": "1.5.0-b.8",
+      "version": "1.5.0-rc.0",
       "license": "BSD-3-Clause",
       "dependencies": {
         "@bokeh/bokehjs": "3.5.1",
diff --git a/panel/package.json b/panel/package.json
index bfebaf6c85..f2b55dc692 100644
--- a/panel/package.json
+++ b/panel/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@holoviz/panel",
-  "version": "1.5.0-b.8",
+  "version": "1.5.0-rc.0",
   "description": "The powerful data exploration & web app framework for Python.",
   "license": "BSD-3-Clause",
   "repository": {