diff --git a/CHANGELOG.md b/CHANGELOG.md
index 9f345f8fe75..727228838b3 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,21 @@
+## [3.5.4](https://github.com/vuejs/core/compare/v3.5.3...v3.5.4) (2024-09-10)
+
+
+### Bug Fixes
+
+* **compiler-sfc:** correct scoped injection for nesting selector ([#11854](https://github.com/vuejs/core/issues/11854)) ([b1de75e](https://github.com/vuejs/core/commit/b1de75ed04626b6423085dfde91fb0cb481a25e8)), closes [#10567](https://github.com/vuejs/core/issues/10567)
+* **reactivity:** fix markRaw error on already marked object ([#11864](https://github.com/vuejs/core/issues/11864)) ([67d6596](https://github.com/vuejs/core/commit/67d6596d40b1807b9cd8eb0d9282932ea77be3c0)), closes [#11862](https://github.com/vuejs/core/issues/11862)
+* Revert "fix: Revert "fix(reactivity): self-referencing computed should refresh"" ([e596378](https://github.com/vuejs/core/commit/e596378e0be728dad7d60938449f3fa557ca2ec9))
+* **runtime-core:** handle shallow reactive arrays in renderList correctly ([#11870](https://github.com/vuejs/core/issues/11870)) ([ced59ab](https://github.com/vuejs/core/commit/ced59ab8f2f2e89c13119bab3a0c25a1a1f1c3d6)), closes [#11869](https://github.com/vuejs/core/issues/11869)
+* **types:** correctly infer `TypeEmits` with both tuple and function syntax ([#11840](https://github.com/vuejs/core/issues/11840)) ([dad6738](https://github.com/vuejs/core/commit/dad673809929c084dcb8e42640eb7daa675d4ea4)), closes [#11836](https://github.com/vuejs/core/issues/11836)
+
+
+### Performance Improvements
+
+* **reactivity:** trigger deps directly instead of storing in an array first ([#11695](https://github.com/vuejs/core/issues/11695)) ([f80d447](https://github.com/vuejs/core/commit/f80d447c17662556e9e3f99f6d199967f4c8cf3d))
+
+
+
 ## [3.5.3](https://github.com/vuejs/core/compare/v3.5.2...v3.5.3) (2024-09-06)
 
 
diff --git a/package.json b/package.json
index e4d1e8250ad..55d42661e9c 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "private": true,
-  "version": "3.5.3",
+  "version": "3.5.4",
   "packageManager": "pnpm@9.10.0",
   "type": "module",
   "scripts": {
diff --git a/packages/compiler-core/package.json b/packages/compiler-core/package.json
index da4e3388e02..ebc2e941b9a 100644
--- a/packages/compiler-core/package.json
+++ b/packages/compiler-core/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-core",
-  "version": "3.5.3",
+  "version": "3.5.4",
   "description": "@vue/compiler-core",
   "main": "index.js",
   "module": "dist/compiler-core.esm-bundler.js",
diff --git a/packages/compiler-dom/package.json b/packages/compiler-dom/package.json
index de4aa7ea86b..7de85806021 100644
--- a/packages/compiler-dom/package.json
+++ b/packages/compiler-dom/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-dom",
-  "version": "3.5.3",
+  "version": "3.5.4",
   "description": "@vue/compiler-dom",
   "main": "index.js",
   "module": "dist/compiler-dom.esm-bundler.js",
diff --git a/packages/compiler-sfc/package.json b/packages/compiler-sfc/package.json
index b66e0793aa9..384ea323cfc 100644
--- a/packages/compiler-sfc/package.json
+++ b/packages/compiler-sfc/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-sfc",
-  "version": "3.5.3",
+  "version": "3.5.4",
   "description": "@vue/compiler-sfc",
   "main": "dist/compiler-sfc.cjs.js",
   "module": "dist/compiler-sfc.esm-browser.js",
diff --git a/packages/compiler-ssr/package.json b/packages/compiler-ssr/package.json
index 98636adde6e..4f9008fc92b 100644
--- a/packages/compiler-ssr/package.json
+++ b/packages/compiler-ssr/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-ssr",
-  "version": "3.5.3",
+  "version": "3.5.4",
   "description": "@vue/compiler-ssr",
   "main": "dist/compiler-ssr.cjs.js",
   "types": "dist/compiler-ssr.d.ts",
diff --git a/packages/reactivity/package.json b/packages/reactivity/package.json
index 8e6f64b4379..46bad312525 100644
--- a/packages/reactivity/package.json
+++ b/packages/reactivity/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/reactivity",
-  "version": "3.5.3",
+  "version": "3.5.4",
   "description": "@vue/reactivity",
   "main": "index.js",
   "module": "dist/reactivity.esm-bundler.js",
diff --git a/packages/runtime-core/package.json b/packages/runtime-core/package.json
index fb247fa7c25..61fb1a01b9f 100644
--- a/packages/runtime-core/package.json
+++ b/packages/runtime-core/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/runtime-core",
-  "version": "3.5.3",
+  "version": "3.5.4",
   "description": "@vue/runtime-core",
   "main": "index.js",
   "module": "dist/runtime-core.esm-bundler.js",
diff --git a/packages/runtime-dom/package.json b/packages/runtime-dom/package.json
index 42f5d6c6e2f..728d0ed5afc 100644
--- a/packages/runtime-dom/package.json
+++ b/packages/runtime-dom/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/runtime-dom",
-  "version": "3.5.3",
+  "version": "3.5.4",
   "description": "@vue/runtime-dom",
   "main": "index.js",
   "module": "dist/runtime-dom.esm-bundler.js",
diff --git a/packages/server-renderer/package.json b/packages/server-renderer/package.json
index 80639a81dea..3222f76f5fc 100644
--- a/packages/server-renderer/package.json
+++ b/packages/server-renderer/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/server-renderer",
-  "version": "3.5.3",
+  "version": "3.5.4",
   "description": "@vue/server-renderer",
   "main": "index.js",
   "module": "dist/server-renderer.esm-bundler.js",
diff --git a/packages/shared/package.json b/packages/shared/package.json
index 636b6767ec7..44e6af461d3 100644
--- a/packages/shared/package.json
+++ b/packages/shared/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/shared",
-  "version": "3.5.3",
+  "version": "3.5.4",
   "description": "internal utils shared across @vue packages",
   "main": "index.js",
   "module": "dist/shared.esm-bundler.js",
diff --git a/packages/vue-compat/package.json b/packages/vue-compat/package.json
index 4a015d2f4da..c51558b6af1 100644
--- a/packages/vue-compat/package.json
+++ b/packages/vue-compat/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compat",
-  "version": "3.5.3",
+  "version": "3.5.4",
   "description": "Vue 3 compatibility build for Vue 2",
   "main": "index.js",
   "module": "dist/vue.runtime.esm-bundler.js",
diff --git a/packages/vue/package.json b/packages/vue/package.json
index 23fbbfd71fc..b6d7e14917b 100644
--- a/packages/vue/package.json
+++ b/packages/vue/package.json
@@ -1,6 +1,6 @@
 {
   "name": "vue",
-  "version": "3.5.3",
+  "version": "3.5.4",
   "description": "The progressive JavaScript framework for building modern web UI.",
   "main": "index.js",
   "module": "dist/vue.runtime.esm-bundler.js",