Abstract. This paper describes a major new release of the PRISM probabilistic model checker, adding, in particular, quantitative verification of (priced) probabilistic timed automata. These model systems exhibiting probabilistic, nondeterministic and real-time characteristics. In many application domains, all three aspects are essential; this includes, for example, embedded controllers in automotive or avionic systems, wireless communication protocols such as Bluetooth or Zigbee, and randomised security protocols. PRISM, which is open-source, also contains several new components that are of independent use. These include: an extensible toolkit for building, verifying and refining abstractions of probabilistic models; an explicit-state probabilistic model checking library; a discrete-event simulation engine for statistical model checking; support for generation of optimal adversaries/strategies; and a benchmark suite.