diff --git a/ReactVersions.js b/ReactVersions.js
index c66cb5875705f..6fd833b54813e 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 5ae2115f97e9a..d9a3daf5925d3 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 f215aef6915ab..13c13cef58698 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 6936a460ecc2f..a357966faa3e9 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 4f0784a288b62..224bf29ed9a72 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 1cf19b8326252..6667fb046c639 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 e151dbf0f8614..d6c781a6644dc 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 47d6d4b0575a9..4e15e228014a8 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 e9a81e8331269..9e1c942dcd6af 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';