diff --git a/package.json b/package.json
index b53e36e4b2f..7d77358cb65 100644
--- a/package.json
+++ b/package.json
@@ -2,7 +2,7 @@
     "name": "typescript",
     "author": "Microsoft Corp.",
     "homepage": "https://www.typescriptlang.org/",
-    "version": "5.3.0",
+    "version": "5.4.0",
     "license": "Apache-2.0",
     "description": "TypeScript is a language for application scale JavaScript development",
     "keywords": [
diff --git a/src/compiler/corePublic.ts b/src/compiler/corePublic.ts
index c026d2c741f..07916f98555 100644
--- a/src/compiler/corePublic.ts
+++ b/src/compiler/corePublic.ts
@@ -1,6 +1,6 @@
 // WARNING: The script `configurePrerelease.ts` uses a regexp to parse out these values.
 // If changing the text in this section, be sure to test `configurePrerelease` too.
-export const versionMajorMinor = "5.3";
+export const versionMajorMinor = "5.4";
 // The following is baselined as a literal template type without intervention
 /** The version of the TypeScript compiler release */
 // eslint-disable-next-line @typescript-eslint/no-inferrable-types
diff --git a/tests/baselines/reference/api/typescript.d.ts b/tests/baselines/reference/api/typescript.d.ts
index 5ee1d5258cb..60d69d7c8b7 100644
--- a/tests/baselines/reference/api/typescript.d.ts
+++ b/tests/baselines/reference/api/typescript.d.ts
@@ -4132,7 +4132,7 @@ declare namespace ts {
             responseRequired?: boolean;
         }
     }
-    const versionMajorMinor = "5.3";
+    const versionMajorMinor = "5.4";
     /** The version of the TypeScript compiler release */
     const version: string;
     /**