diff --git a/.flowconfig b/.flowconfig
index 01dcce1eb8..1be78b3f6b 100644
--- a/.flowconfig
+++ b/.flowconfig
@@ -68,4 +68,4 @@ untyped-import
 untyped-type-import
 
 [version]
-^0.148.0
+^0.149.0
diff --git a/.flowconfig.android b/.flowconfig.android
index 48daf51de4..2185e09756 100644
--- a/.flowconfig.android
+++ b/.flowconfig.android
@@ -68,4 +68,4 @@ untyped-import
 untyped-type-import
 
 [version]
-^0.148.0
+^0.149.0
diff --git a/package.json b/package.json
index ff97165954..92ce839ac2 100644
--- a/package.json
+++ b/package.json
@@ -121,7 +121,7 @@
     "ws": "^6.1.4"
   },
   "devDependencies": {
-    "flow-bin": "^0.148.0",
+    "flow-bin": "^0.149.0",
     "react": "17.0.2"
   },
   "detox": {
diff --git a/repo-config/package.json b/repo-config/package.json
index ed024217ae..39de2a2d54 100644
--- a/repo-config/package.json
+++ b/repo-config/package.json
@@ -33,7 +33,7 @@
     "eslint-plugin-react-hooks": "^4.2.0",
     "eslint-plugin-react-native": "3.10.0",
     "eslint-plugin-relay": "1.8.1",
-    "flow-bin": "^0.148.0",
+    "flow-bin": "^0.149.0",
     "jest": "^26.5.2",
     "jest-junit": "^10.0.0",
     "jscodeshift": "^0.11.0",
diff --git a/template/_flowconfig b/template/_flowconfig
index 1f0f450a57..7c3a4c6ae2 100644
--- a/template/_flowconfig
+++ b/template/_flowconfig
@@ -23,9 +23,6 @@ node_modules/react-native/flow/
 [options]
 emoji=true
 
-esproposal.optional_chaining=enable
-esproposal.nullish_coalescing=enable
-
 exact_by_default=true
 
 module.file_ext=.js
@@ -63,4 +60,4 @@ untyped-import
 untyped-type-import
 
 [version]
-^0.148.0
+^0.149.0
diff --git a/yarn.lock b/yarn.lock
index e2a52cf209..57afa9f5ce 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -3032,10 +3032,10 @@ flatted@^2.0.0:
   resolved "https://registry.yarnpkg.com/flatted/-/flatted-2.0.2.tgz#4575b21e2bcee7434aa9be662f4b7b5f9c2b5138"
   integrity sha512-r5wGx7YeOwNWNlCA0wQ86zKyDLMQr+/RB8xy74M4hTphfmjlijTSSXGuH8rnvKZnfT9i+75zmd8jcKdMR4O6jA==
 
-flow-bin@^0.148.0:
-  version "0.148.0"
-  resolved "https://registry.yarnpkg.com/flow-bin/-/flow-bin-0.148.0.tgz#1d264606dbb4d6e6070cc98a775e21dcd64e6890"
-  integrity sha512-7Cx6BUm8UAlbqtYJNYXdMrh900MQhNV+SjtBxZuWN7UmlVG4tIRNzNLEOjNnj2DN2vcL1wfI5IlSUXnws/QCEw==
+flow-bin@^0.149.0:
+  version "0.149.0"
+  resolved "https://registry.yarnpkg.com/flow-bin/-/flow-bin-0.149.0.tgz#9bac6dd3074bf4740c014b333a2f6fdeaf393cf9"
+  integrity sha512-32hM6iKSInPCUuooS23SJ4c5Up0Tt9ozrXEE6urEpTDJU0z/vQblnCBRt3QZaEEDzSKOu2QZAU6K7fbShOOHaQ==
 
 flow-parser@0.*, flow-parser@^0.121.0:
   version "0.121.0"