diff --git a/Libraries/Core/ReactNativeVersion.js b/Libraries/Core/ReactNativeVersion.js
index 9224afd0e341bd..9220532dd1583b 100644
--- a/Libraries/Core/ReactNativeVersion.js
+++ b/Libraries/Core/ReactNativeVersion.js
@@ -16,5 +16,5 @@ exports.version = {
   major: 0,
   minor: 54,
   patch: 0,
-  prerelease: 'rc.0',
+  prerelease: 'rc.2',
 };
diff --git a/React/Base/RCTVersion.h b/React/Base/RCTVersion.h
index b51a14ab49ffa8..20b0e174272e14 100644
--- a/React/Base/RCTVersion.h
+++ b/React/Base/RCTVersion.h
@@ -13,5 +13,5 @@
   @"major": @(0), \
   @"minor": @(54), \
   @"patch": @(0), \
-  @"prerelease": @"rc.0", \
+  @"prerelease": @"rc.2", \
 }
diff --git a/ReactAndroid/gradle.properties b/ReactAndroid/gradle.properties
index f5f7244dc54e0a..9f65a77ab2238b 100644
--- a/ReactAndroid/gradle.properties
+++ b/ReactAndroid/gradle.properties
@@ -1,4 +1,4 @@
-VERSION_NAME=0.54.0-rc.0
+VERSION_NAME=0.54.0-rc.2
 GROUP=com.facebook.react
 
 POM_NAME=ReactNative
diff --git a/ReactAndroid/src/main/java/com/facebook/react/modules/systeminfo/ReactNativeVersion.java b/ReactAndroid/src/main/java/com/facebook/react/modules/systeminfo/ReactNativeVersion.java
index bf8bdc8d177631..7ac114cef50137 100644
--- a/ReactAndroid/src/main/java/com/facebook/react/modules/systeminfo/ReactNativeVersion.java
+++ b/ReactAndroid/src/main/java/com/facebook/react/modules/systeminfo/ReactNativeVersion.java
@@ -20,5 +20,5 @@ public class ReactNativeVersion {
       "major", 0,
       "minor", 54,
       "patch", 0,
-      "prerelease", "rc.0");
+      "prerelease", "rc.2");
 }
diff --git a/package.json b/package.json
index 39bc3ca82d8947..19c9067d2ddbb2 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "react-native",
-  "version": "0.54.0-rc.0",
+  "version": "0.54.0-rc.2",
   "description": "A framework for building native apps using React",
   "license": "BSD-3-Clause",
   "repository": {