diff --git a/package-lock.json b/package-lock.json
index d5a88239720c..5c3a8d9f9929 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -109,7 +109,7 @@
         "react-native-plaid-link-sdk": "11.5.0",
         "react-native-qrcode-svg": "^6.2.0",
         "react-native-quick-sqlite": "git+https://github.com/margelo/react-native-quick-sqlite#abc91857d4b3efb2020ec43abd2a508563b64316",
-        "react-native-reanimated": "^3.7.2",
+        "react-native-reanimated": "^3.8.0",
         "react-native-release-profiler": "^0.1.6",
         "react-native-render-html": "6.3.1",
         "react-native-safe-area-context": "4.8.2",
@@ -31554,10 +31554,15 @@
       }
     },
     "node_modules/react-native-reanimated": {
-      "version": "3.7.2",
-      "license": "MIT",
+      "version": "3.8.1",
+      "resolved": "https://registry.npmjs.org/react-native-reanimated/-/react-native-reanimated-3.8.1.tgz",
+      "integrity": "sha512-EdM0vr3JEaNtqvstqESaPfOBy0gjYBkr1iEolWJ82Ax7io8y9OVUIphgsLKTB36CtR1XtmBw0RZVj7KArc7ZVA==",
       "dependencies": {
-        "@babel/plugin-transform-object-assign": "^7.16.7",
+        "@babel/plugin-transform-arrow-functions": "^7.0.0-0",
+        "@babel/plugin-transform-nullish-coalescing-operator": "^7.0.0-0",
+        "@babel/plugin-transform-optional-chaining": "^7.0.0-0",
+        "@babel/plugin-transform-shorthand-properties": "^7.0.0-0",
+        "@babel/plugin-transform-template-literals": "^7.0.0-0",
         "@babel/preset-typescript": "^7.16.7",
         "convert-source-map": "^2.0.0",
         "invariant": "^2.2.4"
diff --git a/package.json b/package.json
index f1445aa2f8ff..7a707befee71 100644
--- a/package.json
+++ b/package.json
@@ -161,7 +161,7 @@
     "react-native-plaid-link-sdk": "11.5.0",
     "react-native-qrcode-svg": "^6.2.0",
     "react-native-quick-sqlite": "git+https://github.com/margelo/react-native-quick-sqlite#abc91857d4b3efb2020ec43abd2a508563b64316",
-    "react-native-reanimated": "^3.7.2",
+    "react-native-reanimated": "^3.8.0",
     "react-native-release-profiler": "^0.1.6",
     "react-native-render-html": "6.3.1",
     "react-native-safe-area-context": "4.8.2",