diff --git a/package.json b/package.json
index 6a907d1..3a7e5cc 100644
--- a/package.json
+++ b/package.json
@@ -10,7 +10,7 @@
     "bdd"
   ],
   "license": "MIT",
-  "version": "5.3.1",
+  "version": "5.4.0",
   "repository": {
     "type": "git",
     "url": "https://github.com/jasmine/jasmine-npm"
@@ -32,7 +32,7 @@
   ],
   "dependencies": {
     "glob": "^10.2.2",
-    "jasmine-core": "~5.3.0"
+    "jasmine-core": "~5.4.0"
   },
   "bin": "./bin/jasmine.js",
   "main": "./lib/jasmine.js",
diff --git a/release_notes/5.4.0.md b/release_notes/5.4.0.md
new file mode 100644
index 0000000..9d13ded
--- /dev/null
+++ b/release_notes/5.4.0.md
@@ -0,0 +1,10 @@
+# Jasmine 5.4.0 Release Notes
+
+This release updates the jasmine-core dependency to 5.4.0. See the
+[jasmine-core release notes](https://github.com/jasmine/jasmine/blob/main/release_notes/5.4.0.md)
+for more information.
+
+## Supported environments
+
+This version has been tested on Node 18, 20, and 22.
+