diff --git a/clang/docs/ReleaseNotes.rst b/clang/docs/ReleaseNotes.rst
index 81cbfd90155fe..443325bb0d1e1 100644
--- a/clang/docs/ReleaseNotes.rst
+++ b/clang/docs/ReleaseNotes.rst
@@ -117,6 +117,8 @@ C++ Language Changes
 
 C++20 Feature Support
 ^^^^^^^^^^^^^^^^^^^^^
+- Fix a bug in conversion sequence of arguments to a function with reversed parameter order.
+  Fixes `GH <https://github.com/llvm/llvm-project/issues/53954>`_.
 
 C++23 Feature Support
 ^^^^^^^^^^^^^^^^^^^^^
diff --git a/clang/lib/Sema/SemaOverload.cpp b/clang/lib/Sema/SemaOverload.cpp
index ce78994e65538..c271cebb9eb63 100644
--- a/clang/lib/Sema/SemaOverload.cpp
+++ b/clang/lib/Sema/SemaOverload.cpp
@@ -7688,7 +7688,7 @@ bool Sema::CheckNonDependentConversions(
     QualType ParamType = ParamTypes[I + Offset];
     if (!ParamType->isDependentType()) {
       unsigned ConvIdx = PO == OverloadCandidateParamOrder::Reversed
-                             ? 0
+                             ? Args.size() - 1 - (ThisConversions + I)
                              : (ThisConversions + I);
       Conversions[ConvIdx]
         = TryCopyInitialization(*this, Args[I], ParamType,
diff --git a/clang/test/CXX/over/over.match/over.match.funcs/over.match.oper/p3-2a.cpp b/clang/test/CXX/over/over.match/over.match.funcs/over.match.oper/p3-2a.cpp
index 5c6804eb7726b..02fe37dc1be50 100644
--- a/clang/test/CXX/over/over.match/over.match.funcs/over.match.oper/p3-2a.cpp
+++ b/clang/test/CXX/over/over.match/over.match.funcs/over.match.oper/p3-2a.cpp
@@ -324,6 +324,41 @@ bool x = X() == X(); // expected-warning {{ambiguous}}
 }
 } // namespace P2468R2
 
+namespace GH53954{
+namespace test1 {
+struct P {
+    template <class T>
+    friend bool operator==(const P&, const T&); // expected-note {{candidate}} \
+                                                  // expected-note {{reversed parameter order}}
+};
+struct A : public P {};
+struct B : public P {};
+bool check(A a, B b) { return a == b; } // expected-error {{ '==' is ambiguous}}
+}
+
+namespace test2 {
+struct P {
+    template <class T>
+    friend bool operator==(const T&, const P&); // expected-note {{candidate}} \
+                                                // expected-note {{reversed parameter order}}
+};
+struct A : public P {};
+struct B : public P {};
+bool check(A a, B b) { return a == b; } // expected-error {{ '==' is ambiguous}}
+}
+
+namespace test3 {
+struct P {
+  template<class S>
+  bool operator==(const S &) const; // expected-note {{candidate}} \
+                                    // expected-note {{reversed parameter order}}
+};
+struct A : public P {};
+struct B : public P {};
+bool check(A a, B b) { return a == b; } // expected-error {{ '==' is ambiguous}}
+}
+}
+
 #else // NO_ERRORS
 
 namespace problem_cases {