diff --git a/ReactVersions.js b/ReactVersions.js
index c66cb58757..6fd833b548 100644
--- a/ReactVersions.js
+++ b/ReactVersions.js
@@ -18,25 +18,25 @@
 //
 //   0.0.0-experimental-241c4467e-20200129
 
-const ReactVersion = '18.3.0';
+const ReactVersion = '18.3.1';
 
 // The label used by the @next channel. Represents the upcoming release's
 // stability. Could be "alpha", "beta", "rc", etc.
 const nextChannelLabel = 'next';
 
 const stablePackages = {
-  'eslint-plugin-react-hooks': '4.6.1',
-  'jest-react': '0.14.1',
+  'eslint-plugin-react-hooks': '4.6.2',
+  'jest-react': '0.14.2',
   react: ReactVersion,
   'react-art': ReactVersion,
   'react-dom': ReactVersion,
   'react-is': ReactVersion,
-  'react-reconciler': '0.29.1',
-  'react-refresh': '0.14.1',
+  'react-reconciler': '0.29.2',
+  'react-refresh': '0.14.2',
   'react-test-renderer': ReactVersion,
-  'use-subscription': '1.8.1',
-  'use-sync-external-store': '1.2.1',
-  scheduler: '0.23.1',
+  'use-subscription': '1.8.2',
+  'use-sync-external-store': '1.2.2',
+  scheduler: '0.23.2',
 };
 
 // These packages do not exist in the @next or @latest channel, only
diff --git a/packages/jest-react/package.json b/packages/jest-react/package.json
index 5ae2115f97..d9a3daf592 100644
--- a/packages/jest-react/package.json
+++ b/packages/jest-react/package.json
@@ -20,8 +20,8 @@
   "homepage": "https://reactjs.org/",
   "peerDependencies": {
     "jest": "^23.0.1 || ^24.0.0 || ^25.1.0",
-    "react": "^18.3.0",
-    "react-test-renderer": "^18.3.0"
+    "react": "^18.3.1",
+    "react-test-renderer": "^18.3.1"
   },
   "files": [
     "LICENSE",
diff --git a/packages/react-art/package.json b/packages/react-art/package.json
index f215aef691..13c13cef58 100644
--- a/packages/react-art/package.json
+++ b/packages/react-art/package.json
@@ -1,7 +1,7 @@
 {
   "name": "react-art",
   "description": "React ART is a JavaScript library for drawing vector graphics using React. It provides declarative and reactive bindings to the ART library. Using the same declarative API you can render the output to either Canvas, SVG or VML (IE8).",
-  "version": "18.3.0",
+  "version": "18.3.1",
   "main": "index.js",
   "repository": {
     "type": "git",
@@ -28,7 +28,7 @@
     "scheduler": "^0.22.0"
   },
   "peerDependencies": {
-    "react": "^18.3.0"
+    "react": "^18.3.1"
   },
   "files": [
     "LICENSE",
diff --git a/packages/react-dom/package.json b/packages/react-dom/package.json
index 6936a460ec..a357966faa 100644
--- a/packages/react-dom/package.json
+++ b/packages/react-dom/package.json
@@ -1,6 +1,6 @@
 {
   "name": "react-dom",
-  "version": "18.3.0",
+  "version": "18.3.1",
   "description": "React package for working with the DOM.",
   "main": "index.js",
   "repository": {
@@ -21,7 +21,7 @@
     "scheduler": "^0.22.0"
   },
   "peerDependencies": {
-    "react": "^18.3.0"
+    "react": "^18.3.1"
   },
   "files": [
     "LICENSE",
diff --git a/packages/react-is/package.json b/packages/react-is/package.json
index 4f0784a288..224bf29ed9 100644
--- a/packages/react-is/package.json
+++ b/packages/react-is/package.json
@@ -1,6 +1,6 @@
 {
   "name": "react-is",
-  "version": "18.3.0",
+  "version": "18.3.1",
   "description": "Brand checking of React Elements.",
   "main": "index.js",
   "repository": {
diff --git a/packages/react-reconciler/package.json b/packages/react-reconciler/package.json
index 1cf19b8326..6667fb046c 100644
--- a/packages/react-reconciler/package.json
+++ b/packages/react-reconciler/package.json
@@ -26,7 +26,7 @@
     "node": ">=0.10.0"
   },
   "peerDependencies": {
-    "react": "^18.3.0"
+    "react": "^18.3.1"
   },
   "dependencies": {
     "loose-envify": "^1.1.0",
diff --git a/packages/react-test-renderer/package.json b/packages/react-test-renderer/package.json
index e151dbf0f8..d6c781a664 100644
--- a/packages/react-test-renderer/package.json
+++ b/packages/react-test-renderer/package.json
@@ -1,6 +1,6 @@
 {
   "name": "react-test-renderer",
-  "version": "18.3.0",
+  "version": "18.3.1",
   "description": "React package for snapshot testing.",
   "main": "index.js",
   "repository": {
@@ -19,12 +19,12 @@
   },
   "homepage": "https://reactjs.org/",
   "dependencies": {
-    "react-is": "^18.3.0",
+    "react-is": "^18.3.1",
     "react-shallow-renderer": "^16.15.0",
     "scheduler": "^0.22.0"
   },
   "peerDependencies": {
-    "react": "^18.3.0"
+    "react": "^18.3.1"
   },
   "files": [
     "LICENSE",
diff --git a/packages/react/package.json b/packages/react/package.json
index 47d6d4b057..4e15e22801 100644
--- a/packages/react/package.json
+++ b/packages/react/package.json
@@ -4,7 +4,7 @@
   "keywords": [
     "react"
   ],
-  "version": "18.3.0",
+  "version": "18.3.1",
   "homepage": "https://reactjs.org/",
   "bugs": "https://github.com/facebook/react/issues",
   "license": "MIT",
diff --git a/packages/shared/ReactVersion.js b/packages/shared/ReactVersion.js
index e9a81e8331..9e1c942dcd 100644
--- a/packages/shared/ReactVersion.js
+++ b/packages/shared/ReactVersion.js
@@ -13,4 +13,4 @@
 // TODO: This module is used both by the release scripts and to expose a version
 // at runtime. We should instead inject the version number as part of the build
 // process, and use the ReactVersions.js module as the single source of truth.
-export default '18.3.0';
+export default '18.3.1';