diff --git a/Gemfile.lock b/Gemfile.lock
index d406e4043c6..d27335c0aaf 100644
--- a/Gemfile.lock
+++ b/Gemfile.lock
@@ -56,7 +56,7 @@ GEM
     colored2 (3.1.2)
     concurrent-ruby (1.1.10)
     escape (0.0.4)
-    ethon (0.15.0)
+    ethon (0.16.0)
       ffi (>= 1.15.0)
     ffi (1.15.5)
     fourflusher (2.3.1)
@@ -85,7 +85,7 @@ GEM
       colored2 (~> 3.1)
       nanaimo (~> 0.3.0)
       rexml (~> 3.2.4)
-    zeitwerk (2.6.4)
+    zeitwerk (2.6.6)
 
 PLATFORMS
   ruby
diff --git a/Libraries/Core/ReactNativeVersion.js b/Libraries/Core/ReactNativeVersion.js
index 0dd471ab22b..ac66c1db28f 100644
--- a/Libraries/Core/ReactNativeVersion.js
+++ b/Libraries/Core/ReactNativeVersion.js
@@ -13,5 +13,5 @@ exports.version = {
   major: 0,
   minor: 71,
   patch: 0,
-  prerelease: 'rc.0',
+  prerelease: 'rc.1',
 };
diff --git a/React/Base/RCTVersion.m b/React/Base/RCTVersion.m
index dd2546c87b1..4f6d3c1f5ec 100644
--- a/React/Base/RCTVersion.m
+++ b/React/Base/RCTVersion.m
@@ -24,7 +24,7 @@ NSDictionary* RCTGetReactNativeVersion(void)
                   RCTVersionMajor: @(0),
                   RCTVersionMinor: @(71),
                   RCTVersionPatch: @(0),
-                  RCTVersionPrerelease: @"rc.0",
+                  RCTVersionPrerelease: @"rc.1",
                   };
   });
   return __rnVersion;
diff --git a/ReactAndroid/gradle.properties b/ReactAndroid/gradle.properties
index 8a2a55dc7ba..0e58265ada0 100644
--- a/ReactAndroid/gradle.properties
+++ b/ReactAndroid/gradle.properties
@@ -1,4 +1,4 @@
-VERSION_NAME=0.71.0-rc.0
+VERSION_NAME=0.71.0-rc.1
 GROUP=com.facebook.react
 
 # JVM Versions
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 b3fbdea82ba..d2214c67f8d 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
@@ -18,5 +18,5 @@ public class ReactNativeVersion {
       "major", 0,
       "minor", 71,
       "patch", 0,
-      "prerelease", "rc.0");
+      "prerelease", "rc.1");
 }
diff --git a/ReactCommon/cxxreact/ReactNativeVersion.h b/ReactCommon/cxxreact/ReactNativeVersion.h
index 51efce8941c..3cfc7975bf7 100644
--- a/ReactCommon/cxxreact/ReactNativeVersion.h
+++ b/ReactCommon/cxxreact/ReactNativeVersion.h
@@ -18,7 +18,7 @@ constexpr struct {
   int32_t Major = 0;
   int32_t Minor = 71;
   int32_t Patch = 0;
-  std::string_view Prerelease = "rc.0";
+  std::string_view Prerelease = "rc.1";
 } ReactNativeVersion;
 
 } // namespace facebook::react
diff --git a/package.json b/package.json
index e8c67b26498..515150860fa 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "react-native",
-  "version": "0.71.0-rc.0",
+  "version": "0.71.0-rc.1",
   "bin": "./cli.js",
   "description": "A framework for building native apps using React",
   "license": "MIT",
diff --git a/template/package.json b/template/package.json
index 564730979ea..a0766384380 100644
--- a/template/package.json
+++ b/template/package.json
@@ -11,7 +11,7 @@
   },
   "dependencies": {
     "react": "18.2.0",
-    "react-native": "0.71.0-rc.0"
+    "react-native": "0.71.0-rc.1"
   },
   "devDependencies": {
     "@babel/core": "^7.12.9",