diff --git a/README.md b/README.md
index f37b13b738..3cdd38f099 100644
--- a/README.md
+++ b/README.md
@@ -45,6 +45,7 @@ The Subnet EVM runs in a separate process from the main AvalancheGo process and
 [v0.4.11] AvalancheGo@v1.9.10-v1.9.16 (Protocol Version: 24)
 [v0.4.12] AvalancheGo@v1.9.10-v1.9.16 (Protocol Version: 24)
 [v0.5.0] AvalancheGo@v1.10.0 (Protocol Version: 25)
+[v0.5.1] AvalancheGo@v1.10.1 (Protocol Version: 26)
 ```
 
 ## API
diff --git a/compatibility.json b/compatibility.json
index 6ff8ec84a5..eb1f3ab1cc 100644
--- a/compatibility.json
+++ b/compatibility.json
@@ -1,5 +1,6 @@
 {
   "rpcChainVMProtocolVersion": {
+    "v0.5.1": 26,
     "v0.5.0": 25,
     "v0.4.12": 24,
     "v0.4.11": 24,
diff --git a/go.mod b/go.mod
index 30093221ab..b492061862 100644
--- a/go.mod
+++ b/go.mod
@@ -4,7 +4,7 @@ go 1.19
 
 require (
 	github.com/VictoriaMetrics/fastcache v1.10.0
-	github.com/ava-labs/avalanchego v1.10.0
+	github.com/ava-labs/avalanchego v1.10.1
 	github.com/cespare/cp v0.1.0
 	github.com/davecgh/go-spew v1.1.1
 	github.com/deckarep/golang-set v1.8.0
diff --git a/go.sum b/go.sum
index 26cc2af947..c6d44c2cb0 100644
--- a/go.sum
+++ b/go.sum
@@ -63,8 +63,8 @@ github.com/allegro/bigcache v1.2.1-0.20190218064605-e24eb225f156/go.mod h1:Cb/ax
 github.com/andreyvit/diff v0.0.0-20170406064948-c7f18ee00883/go.mod h1:rCTlJbsFo29Kk6CurOXKm700vrz8f0KW0JNfpkRJY/8=
 github.com/antihax/optional v1.0.0/go.mod h1:uupD/76wgC+ih3iEmQUL+0Ugr19nfwCT1kdvxnR2qWY=
 github.com/apache/arrow/go/arrow v0.0.0-20191024131854-af6fa24be0db/go.mod h1:VTxUBvSJ3s3eHAg65PNgrsn5BtqCRPdmyXh6rAfdxN0=
-github.com/ava-labs/avalanchego v1.10.0 h1:Rn6Nyd62OkzQG5QpCgtCGVXtjuiaEzxV000kqG9aUIg=
-github.com/ava-labs/avalanchego v1.10.0/go.mod h1:hTaSLGN4y/EmhmYd+yjUj9Lsm00q70V78jOYDdnLrgQ=
+github.com/ava-labs/avalanchego v1.10.1 h1:lBeamJ1iNq+p2oKg2nAs+A65m8vhSDjkiTDbwzQW7kY=
+github.com/ava-labs/avalanchego v1.10.1/go.mod h1:ZvSXWlbkUKlbk3BsWx29a+8eVHe/WBsOxh55BSGoeRk=
 github.com/benbjohnson/clock v1.3.0 h1:ip6w0uFQkncKQ979AypyG0ER7mqUSBdKLOgAle/AT8A=
 github.com/beorn7/perks v0.0.0-20180321164747-3a771d992973/go.mod h1:Dwedo/Wpr24TaqPxmxbtue+5NUziq4I4S80YR8gNf3Q=
 github.com/beorn7/perks v1.0.0/go.mod h1:KWe93zE9D1o94FZ5RNwFwVgaQK1VOXiVxmqh+CedLV8=
@@ -501,6 +501,7 @@ github.com/rs/cors v1.7.0 h1:+88SsELBHx5r+hZ8TCkggzSstaWNbDvThkVK8H6f9ik=
 github.com/rs/cors v1.7.0/go.mod h1:gFx+x8UowdsKA9AchylcLynDq+nNFfI8FkUZdN/jGCU=
 github.com/russross/blackfriday/v2 v2.1.0 h1:JIOH55/0cWyOuilr9/qlrm0BSXldqnqwMsf35Ld67mk=
 github.com/russross/blackfriday/v2 v2.1.0/go.mod h1:+Rmxgy9KzJVeS9/2gXHxylqXiyQDYRxCVz55jmeOWTM=
+github.com/sanity-io/litter v1.5.1 h1:dwnrSypP6q56o3lFxTU+t2fwQ9A+U5qrXVO4Qg9KwVU=
 github.com/segmentio/kafka-go v0.1.0/go.mod h1:X6itGqS9L4jDletMsxZ7Dz+JFWxM6JHfPOCvTvk+EJo=
 github.com/segmentio/kafka-go v0.2.0/go.mod h1:X6itGqS9L4jDletMsxZ7Dz+JFWxM6JHfPOCvTvk+EJo=
 github.com/sergi/go-diff v1.0.0/go.mod h1:0CfEIISq7TuYL3j771MWULgwwjU+GofnZX9QAmXWZgo=
@@ -551,6 +552,7 @@ github.com/supranational/blst v0.3.11-0.20220920110316-f72618070295/go.mod h1:jZ
 github.com/syndtr/goleveldb v1.0.1-0.20210819022825-2ae1ddf74ef7/go.mod h1:q4W45IWZaF22tdD+VEXcAWRA037jwmWEB5VWYORlTpc=
 github.com/syndtr/goleveldb v1.0.1-0.20220614013038-64ee5596c38a h1:1ur3QoCqvE5fl+nylMaIr9PVV1w343YRDtsy+Rwu7XI=
 github.com/syndtr/goleveldb v1.0.1-0.20220614013038-64ee5596c38a/go.mod h1:RRCYJbIwD5jmqPI9XoAFR0OcDxqUctll6zUj/+B4S48=
+github.com/thepudds/fzgen v0.4.2 h1:HlEHl5hk2/cqEomf2uK5SA/FeJc12s/vIHmOG+FbACw=
 github.com/tinylib/msgp v1.0.2/go.mod h1:+d+yLhGm8mzTaHzB+wgMYrodPfmZrzkirds8fDWklFE=
 github.com/tklauser/go-sysconf v0.3.5 h1:uu3Xl4nkLzQfXNsWn15rPc/HQCJKObbt1dKJeWp3vU4=
 github.com/tklauser/go-sysconf v0.3.5/go.mod h1:MkWzOF4RMCshBAMXuhXJs64Rte09mITnppBXY/rYEFI=
diff --git a/plugin/evm/version.go b/plugin/evm/version.go
index 0387a27e18..03e357b8ba 100644
--- a/plugin/evm/version.go
+++ b/plugin/evm/version.go
@@ -11,7 +11,7 @@ var (
 	// GitCommit is set by the build script
 	GitCommit string
 	// Version is the version of Subnet EVM
-	Version string = "v0.5.0"
+	Version string = "v0.5.1"
 )
 
 func init() {
diff --git a/scripts/versions.sh b/scripts/versions.sh
index c4ee6de3e5..e8f0c096c9 100644
--- a/scripts/versions.sh
+++ b/scripts/versions.sh
@@ -1,9 +1,9 @@
 #!/usr/bin/env bash
 
 # Set up the versions to be used - populate ENV variables only if they are not already populated
-SUBNET_EVM_VERSION=${SUBNET_EVM_VERSION:-'v0.5.0'}
+SUBNET_EVM_VERSION=${SUBNET_EVM_VERSION:-'v0.5.1'}
 # Don't export them as they're used in the context of other calls
-AVALANCHE_VERSION=${AVALANCHE_VERSION:-'v1.10.0'}
+AVALANCHE_VERSION=${AVALANCHE_VERSION:-'v1.10.1'}
 AVALANCHEGO_VERSION=${AVALANCHEGO_VERSION:-$AVALANCHE_VERSION}
 GINKGO_VERSION=${GINKGO_VERSION:-'v2.2.0'}