diff --git a/.flowconfig b/.flowconfig
index fbed9f0e8bc..6e45f31cd55 100644
--- a/.flowconfig
+++ b/.flowconfig
@@ -54,8 +54,8 @@ suppress_type=$FlowFixMeProps
 suppress_type=$FlowFixMeState
 suppress_type=$FlowFixMeEmpty
 
-experimental.well_formed_exports=true
-experimental.types_first=true
+well_formed_exports=true
+types_first=true
 experimental.abstract_locations=true
 
 [lints]
@@ -81,4 +81,4 @@ untyped-import
 untyped-type-import
 
 [version]
-^0.127.0
+^0.128.0
diff --git a/.flowconfig.android b/.flowconfig.android
index 6a81aa12376..c82f7b059ef 100644
--- a/.flowconfig.android
+++ b/.flowconfig.android
@@ -54,8 +54,8 @@ suppress_type=$FlowFixMeProps
 suppress_type=$FlowFixMeState
 suppress_type=$FlowFixMeEmpty
 
-experimental.well_formed_exports=true
-experimental.types_first=true
+well_formed_exports=true
+types_first=true
 experimental.abstract_locations=true
 
 [lints]
@@ -81,4 +81,4 @@ untyped-import
 untyped-type-import
 
 [version]
-^0.127.0
+^0.128.0
diff --git a/package.json b/package.json
index cc601ff9dd2..297b2412a32 100644
--- a/package.json
+++ b/package.json
@@ -139,7 +139,7 @@
     "eslint-plugin-react-hooks": "^3.0.0",
     "eslint-plugin-react-native": "3.8.1",
     "eslint-plugin-relay": "1.7.1",
-    "flow-bin": "^0.127.0",
+    "flow-bin": "^0.128.0",
     "jest": "^26.0.1",
     "jest-junit": "^10.0.0",
     "jscodeshift": "^0.9.0",
diff --git a/template/_flowconfig b/template/_flowconfig
index 3ae9b315d26..ce2baaa3249 100644
--- a/template/_flowconfig
+++ b/template/_flowconfig
@@ -66,4 +66,4 @@ untyped-import
 untyped-type-import
 
 [version]
-^0.127.0
+^0.128.0
diff --git a/yarn.lock b/yarn.lock
index d6e52d25658..73aa30a922f 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -3264,10 +3264,10 @@ flatted@^2.0.0:
   resolved "https://registry.yarnpkg.com/flatted/-/flatted-2.0.2.tgz#4575b21e2bcee7434aa9be662f4b7b5f9c2b5138"
   integrity sha512-r5wGx7YeOwNWNlCA0wQ86zKyDLMQr+/RB8xy74M4hTphfmjlijTSSXGuH8rnvKZnfT9i+75zmd8jcKdMR4O6jA==
 
-flow-bin@^0.127.0:
-  version "0.127.0"
-  resolved "https://registry.yarnpkg.com/flow-bin/-/flow-bin-0.127.0.tgz#0614cff4c1b783beef1feeb7108d536e09d77632"
-  integrity sha512-ywvCCdV4NJWzrqjFrMU5tAiVGyBiXjsJQ1+/kj8thXyX15V17x8BFvNwoAH97NrUU8T1HzmFBjLzWc0l2319qg==
+flow-bin@^0.128.0:
+  version "0.128.0"
+  resolved "https://registry.yarnpkg.com/flow-bin/-/flow-bin-0.128.0.tgz#fd1232a64dc46874d8d499f16a1934b964f4c2ae"
+  integrity sha512-EnmMSOCrkx8F0r1+T1d1HODQ+ddy5yRfkT3CvwmK05IWZyXQy27OVdNwdXUWRqc0iMW75T4QkoXaVBYrMqfk+A==
 
 flow-parser@0.*:
   version "0.89.0"