diff --git a/.VERSION b/.VERSION
index 6d2890793..f9c71a52e 100644
--- a/.VERSION
+++ b/.VERSION
@@ -1 +1 @@
-8.5.0
+8.5.1
diff --git a/CHANGELOG.md b/CHANGELOG.md
index f21b947cb..177f03c20 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,6 +4,7 @@
 
 - [Change Log](#change-log)
     - [Unreleased](#unreleased)
+    - [8.5.1 (2024-05-26)](#851-2024-05-26)
     - [8.5.0 (2024-05-25)](#850-2024-05-25)
     - [8.4.0 (2024-03-06)](#840-2024-03-06)
     - [8.3.0 (2022-05-07)](#830-2022-05-07)
@@ -47,7 +48,16 @@
 
 ### [Unreleased](https://github.com/jacobwilliams/json-fortran/tree/HEAD)
 
-[Complete Changeset](https://github.com/jacobwilliams/json-fortran/compare/8.5.0...HEAD)
+[Complete Changeset](https://github.com/jacobwilliams/json-fortran/compare/8.5.1...HEAD)
+
+### [8.5.1](https://github.com/jacobwilliams/json-fortran/tree/8.5.1) (2024-05-26)
+
+[Complete Changeset](https://github.com/jacobwilliams/json-fortran/compare/8.5.0...8.5.1)
+or [Download v8.5.1](https://github.com/jacobwilliams/json-fortran/releases/tag/8.5.1)
+
+**Bug Fixes:**
+
+* Fixed a bug when setting `JSONFORTRAN_STATIC_LIBRARY_ONLY` to False. Also restored some of the original CMake settings from 8.4.0. Specifically, the tests are enabled by default, and both the shared and static libraries are built by default. [#558](https://github.com/jacobwilliams/json-fortran/issues/558) [#559](https://github.com/jacobwilliams/json-fortran/pull/559) ([jacobwilliams](https://github.com/jacobwilliams))
 
 ### [8.5.0](https://github.com/jacobwilliams/json-fortran/tree/8.5.0) (2024-05-25)
 
diff --git a/CMakeLists.txt b/CMakeLists.txt
index 816d71164..16476920a 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -12,8 +12,8 @@
 cmake_minimum_required ( VERSION 3.18 FATAL_ERROR )
 
 option (JSONFORTRAN_ENABLE_DOC_GENERATION "Enable doc generation" OFF)
-option (JSONFORTRAN_ENABLE_TESTS "Enable tests" OFF)
-option (JSONFORTRAN_STATIC_LIBRARY_ONLY "Generate only static library" ON)
+option (JSONFORTRAN_ENABLE_TESTS "Enable tests" ON)
+option (JSONFORTRAN_STATIC_LIBRARY_ONLY "Generate only static library" OFF)
 
 # Use MSVS folders to organize projects on windows
 set_property(GLOBAL PROPERTY USE_FOLDERS ON)
@@ -40,7 +40,7 @@ include ( "cmake/checkOutOfSource.cmake" )
 #---------------------
 project (
     jsonfortran
-    VERSION 8.5.0
+    VERSION 8.5.1
     LANGUAGES Fortran
 )
 
@@ -180,6 +180,7 @@ else()
     add_library ( ${LIB_NAME}-static STATIC ${JF_LIB_SRCS} )
   else()
     add_library ( ${LIB_NAME}        SHARED ${JF_LIB_SRCS} )
+    add_library ( ${LIB_NAME}-static STATIC ${JF_LIB_SRCS} )
   endif()
 endif()
 
diff --git a/README.md b/README.md
index cf2da9b78..8f3f32440 100644
--- a/README.md
+++ b/README.md
@@ -142,7 +142,7 @@ cmake_minimum_required ( VERSION 3.18 FATAL_ERROR )
 enable_language ( Fortran )
 project ( jf_test NONE )
 
-find_package ( jsonfortran-${CMAKE_Fortran_COMPILER_ID} 8.5.0 REQUIRED )
+find_package ( jsonfortran-${CMAKE_Fortran_COMPILER_ID} 8.5.1 REQUIRED )
 
 file ( GLOB JF_TEST_SRCS "src/tests/jf_test_*.F90" )
 foreach ( UNIT_TEST ${JF_TEST_SRCS} )
diff --git a/pages/releases/index.md b/pages/releases/index.md
index 2c9433a4c..9dcc7a39f 100644
--- a/pages/releases/index.md
+++ b/pages/releases/index.md
@@ -25,6 +25,9 @@ documentation from the documentation for official releases other than
 using the browser's back button. Feel free to bookmark this page, or
 the [main project page](|url|/index.html) for convenient navigation.
 
+* [8.5.1](https://jacobwilliams.github.io/json-fortran/prev/8.5.1/index.html)
+   ([FORD](https://github.com/Fortran-FOSS-Programmers/ford) generated documentation)
+    - [Download](https://github.com/jacobwilliams/json-fortran/releases/tag/8.5.1)
 * [8.5.0](https://jacobwilliams.github.io/json-fortran/prev/8.5.0/index.html)
    ([FORD](https://github.com/Fortran-FOSS-Programmers/ford) generated documentation)
     - [Download](https://github.com/jacobwilliams/json-fortran/releases/tag/8.5.0)
diff --git a/src/json_module.F90 b/src/json_module.F90
index 7c1c12ac5..d7fa73b04 100644
--- a/src/json_module.F90
+++ b/src/json_module.F90
@@ -73,7 +73,7 @@ module json_module
 
     implicit none
 
-    character(kind=json_CK,len=*),parameter,private :: version = '8.5.0'
+    character(kind=json_CK,len=*),parameter,private :: version = '8.5.1'
         !! JSON-Fortran version.
         !!
         !!@note This string should match the one in the `.VERSION` file (which is used