diff --git a/Libraries/Core/ReactNativeVersion.js b/Libraries/Core/ReactNativeVersion.js
index bcf52a65c89260..428f1528d61b8b 100644
--- a/Libraries/Core/ReactNativeVersion.js
+++ b/Libraries/Core/ReactNativeVersion.js
@@ -13,5 +13,5 @@ exports.version = {
   major: 0,
   minor: 66,
   patch: 0,
-  prerelease: 'rc.0',
+  prerelease: 'rc.1',
 };
diff --git a/React/Base/RCTVersion.m b/React/Base/RCTVersion.m
index 053a51fc70e3fb..78738c0f05202a 100644
--- a/React/Base/RCTVersion.m
+++ b/React/Base/RCTVersion.m
@@ -24,7 +24,7 @@
                   RCTVersionMajor: @(0),
                   RCTVersionMinor: @(66),
                   RCTVersionPatch: @(0),
-                  RCTVersionPrerelease: @"rc.0",
+                  RCTVersionPrerelease: @"rc.1",
                   };
   });
   return __rnVersion;
diff --git a/ReactAndroid/gradle.properties b/ReactAndroid/gradle.properties
index 79b2637154ffa6..1f306ef9558841 100644
--- a/ReactAndroid/gradle.properties
+++ b/ReactAndroid/gradle.properties
@@ -1,4 +1,4 @@
-VERSION_NAME=0.66.0-rc.0
+VERSION_NAME=0.66.0-rc.1
 GROUP=com.facebook.react
 
 POM_NAME=ReactNative
diff --git a/ReactAndroid/src/main/java/com/facebook/react/modules/systeminfo/ReactNativeVersion.java b/ReactAndroid/src/main/java/com/facebook/react/modules/systeminfo/ReactNativeVersion.java
index e128aaee714725..45874bf25cd779 100644
--- a/ReactAndroid/src/main/java/com/facebook/react/modules/systeminfo/ReactNativeVersion.java
+++ b/ReactAndroid/src/main/java/com/facebook/react/modules/systeminfo/ReactNativeVersion.java
@@ -18,5 +18,5 @@ public class ReactNativeVersion {
       "major", 0,
       "minor", 66,
       "patch", 0,
-      "prerelease", "rc.0");
+      "prerelease", "rc.1");
 }
diff --git a/ReactCommon/cxxreact/ReactNativeVersion.h b/ReactCommon/cxxreact/ReactNativeVersion.h
index 4d8322c6743a2b..f259d8005cab88 100644
--- a/ReactCommon/cxxreact/ReactNativeVersion.h
+++ b/ReactCommon/cxxreact/ReactNativeVersion.h
@@ -18,7 +18,7 @@ constexpr struct {
   int32_t Major = 0;
   int32_t Minor = 66;
   int32_t Patch = 0;
-  std::string_view Prerelease = "rc.0";
+  std::string_view Prerelease = "rc.1";
 } ReactNativeVersion;
 
 } // namespace facebook::react
diff --git a/package.json b/package.json
index 1cca840d5ca274..7494bf319455db 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "react-native",
-  "version": "0.66.0-rc.0",
+  "version": "0.66.0-rc.1",
   "bin": "./cli.js",
   "description": "A framework for building native apps using React",
   "license": "MIT",
diff --git a/template/package.json b/template/package.json
index 5e0762b1b25a42..74fdc943ae17e1 100644
--- a/template/package.json
+++ b/template/package.json
@@ -11,7 +11,7 @@
   },
   "dependencies": {
     "react": "17.0.2",
-    "react-native": "0.66.0-rc.0"
+    "react-native": "0.66.0-rc.1"
   },
   "devDependencies": {
     "@babel/core": "^7.12.9",