diff --git a/packages/react-native-renderer/src/ReactNativeBridgeEventPlugin.js b/packages/react-native-renderer/src/ReactNativeBridgeEventPlugin.js
index 2d74776e4200c..f3ce8a49c28f6 100644
--- a/packages/react-native-renderer/src/ReactNativeBridgeEventPlugin.js
+++ b/packages/react-native-renderer/src/ReactNativeBridgeEventPlugin.js
@@ -89,7 +89,12 @@ function getParent(inst) {
 /**
  * Simulates the traversal of a two-phase, capture/bubble event dispatch.
  */
-export function traverseTwoPhase(inst: Object, fn: Function, arg: Function) {
+export function traverseTwoPhase(
+  inst: Object,
+  fn: Function,
+  arg: Function,
+  skipBubbling: boolean,
+) {
   const path = [];
   while (inst) {
     path.push(inst);
@@ -99,14 +104,24 @@ export function traverseTwoPhase(inst: Object, fn: Function, arg: Function) {
   for (i = path.length; i-- > 0; ) {
     fn(path[i], 'captured', arg);
   }
-  for (i = 0; i < path.length; i++) {
-    fn(path[i], 'bubbled', arg);
+  if (skipBubbling) {
+    // Dispatch on target only
+    fn(path[0], 'bubbled', arg);
+  } else {
+    for (i = 0; i < path.length; i++) {
+      fn(path[i], 'bubbled', arg);
+    }
   }
 }
 
 function accumulateTwoPhaseDispatchesSingle(event) {
   if (event && event.dispatchConfig.phasedRegistrationNames) {
-    traverseTwoPhase(event._targetInst, accumulateDirectionalDispatches, event);
+    traverseTwoPhase(
+      event._targetInst,
+      accumulateDirectionalDispatches,
+      event,
+      false,
+    );
   }
 }
 
@@ -114,6 +129,17 @@ function accumulateTwoPhaseDispatches(events) {
   forEachAccumulated(events, accumulateTwoPhaseDispatchesSingle);
 }
 
+function accumulateCapturePhaseDispatches(event) {
+  if (event && event.dispatchConfig.phasedRegistrationNames) {
+    traverseTwoPhase(
+      event._targetInst,
+      accumulateDirectionalDispatches,
+      event,
+      true,
+    );
+  }
+}
+
 /**
  * Accumulates without regard to direction, does not look for phased
  * registration names. Same as `accumulateDirectDispatchesSingle` but without
@@ -178,7 +204,15 @@ const ReactNativeBridgeEventPlugin = {
       nativeEventTarget,
     );
     if (bubbleDispatchConfig) {
-      accumulateTwoPhaseDispatches(event);
+      const skipBubbling =
+        event != null &&
+        event.dispatchConfig.phasedRegistrationNames != null &&
+        event.dispatchConfig.phasedRegistrationNames.skipBubbling;
+      if (skipBubbling) {
+        accumulateCapturePhaseDispatches(event);
+      } else {
+        accumulateTwoPhaseDispatches(event);
+      }
     } else if (directDispatchConfig) {
       accumulateDirectDispatches(event);
     } else {
diff --git a/packages/react-native-renderer/src/ReactNativeTypes.js b/packages/react-native-renderer/src/ReactNativeTypes.js
index 55150e83517e6..ea6e5d2b41d9a 100644
--- a/packages/react-native-renderer/src/ReactNativeTypes.js
+++ b/packages/react-native-renderer/src/ReactNativeTypes.js
@@ -73,6 +73,7 @@ export type ViewConfig = $ReadOnly<{
       phasedRegistrationNames: $ReadOnly<{
         captured: string,
         bubbled: string,
+        skipBubble?: ?boolean,
       }>,
     }>,
     ...,
diff --git a/packages/react-native-renderer/src/__tests__/ReactFabric-test.internal.js b/packages/react-native-renderer/src/__tests__/ReactFabric-test.internal.js
index 9f2851382af43..0b38424e6df84 100644
--- a/packages/react-native-renderer/src/__tests__/ReactFabric-test.internal.js
+++ b/packages/react-native-renderer/src/__tests__/ReactFabric-test.internal.js
@@ -633,6 +633,106 @@ describe('ReactFabric', () => {
     expect(touchStart2).toBeCalled();
   });
 
+  describe('skipBubbling', () => {
+    it('should skip bubbling to ancestor if specified', () => {
+      const View = createReactNativeComponentClass('RCTView', () => ({
+        validAttributes: {},
+        uiViewClassName: 'RCTView',
+        bubblingEventTypes: {
+          topDefaultBubblingEvent: {
+            phasedRegistrationNames: {
+              captured: 'onDefaultBubblingEventCapture',
+              bubbled: 'onDefaultBubblingEvent',
+            },
+          },
+          topBubblingEvent: {
+            phasedRegistrationNames: {
+              captured: 'onBubblingEventCapture',
+              bubbled: 'onBubblingEvent',
+              skipBubbling: false,
+            },
+          },
+          topSkipBubblingEvent: {
+            phasedRegistrationNames: {
+              captured: 'onSkippedBubblingEventCapture',
+              bubbled: 'onSkippedBubblingEvent',
+              skipBubbling: true,
+            },
+          },
+        },
+      }));
+      const ancestorBubble = jest.fn();
+      const ancestorCapture = jest.fn();
+      const targetBubble = jest.fn();
+      const targetCapture = jest.fn();
+
+      const event = {};
+
+      act(() => {
+        ReactFabric.render(
+          <View
+            onSkippedBubblingEventCapture={ancestorCapture}
+            onDefaultBubblingEventCapture={ancestorCapture}
+            onBubblingEventCapture={ancestorCapture}
+            onSkippedBubblingEvent={ancestorBubble}
+            onDefaultBubblingEvent={ancestorBubble}
+            onBubblingEvent={ancestorBubble}>
+            <View
+              onSkippedBubblingEventCapture={targetCapture}
+              onDefaultBubblingEventCapture={targetCapture}
+              onBubblingEventCapture={targetCapture}
+              onSkippedBubblingEvent={targetBubble}
+              onDefaultBubblingEvent={targetBubble}
+              onBubblingEvent={targetBubble}
+            />
+          </View>,
+          11,
+        );
+      });
+
+      expect(nativeFabricUIManager.createNode.mock.calls.length).toBe(2);
+      expect(nativeFabricUIManager.registerEventHandler.mock.calls.length).toBe(
+        1,
+      );
+      const [
+        ,
+        ,
+        ,
+        ,
+        childInstance,
+      ] = nativeFabricUIManager.createNode.mock.calls[0];
+      const [
+        dispatchEvent,
+      ] = nativeFabricUIManager.registerEventHandler.mock.calls[0];
+
+      dispatchEvent(childInstance, 'topDefaultBubblingEvent', event);
+      expect(targetBubble).toHaveBeenCalledTimes(1);
+      expect(targetCapture).toHaveBeenCalledTimes(1);
+      expect(ancestorCapture).toHaveBeenCalledTimes(1);
+      expect(ancestorBubble).toHaveBeenCalledTimes(1);
+      ancestorBubble.mockReset();
+      ancestorCapture.mockReset();
+      targetBubble.mockReset();
+      targetCapture.mockReset();
+
+      dispatchEvent(childInstance, 'topBubblingEvent', event);
+      expect(targetBubble).toHaveBeenCalledTimes(1);
+      expect(targetCapture).toHaveBeenCalledTimes(1);
+      expect(ancestorCapture).toHaveBeenCalledTimes(1);
+      expect(ancestorBubble).toHaveBeenCalledTimes(1);
+      ancestorBubble.mockReset();
+      ancestorCapture.mockReset();
+      targetBubble.mockReset();
+      targetCapture.mockReset();
+
+      dispatchEvent(childInstance, 'topSkipBubblingEvent', event);
+      expect(targetBubble).toHaveBeenCalledTimes(1);
+      expect(targetCapture).toHaveBeenCalledTimes(1);
+      expect(ancestorCapture).toHaveBeenCalledTimes(1);
+      expect(ancestorBubble).not.toBeCalled();
+    });
+  });
+
   it('dispatches event with target as instance', () => {
     const View = createReactNativeComponentClass('RCTView', () => ({
       validAttributes: {
diff --git a/packages/react-native-renderer/src/legacy-events/ReactSyntheticEventType.js b/packages/react-native-renderer/src/legacy-events/ReactSyntheticEventType.js
index 57d019e2a398d..436507b84ac19 100644
--- a/packages/react-native-renderer/src/legacy-events/ReactSyntheticEventType.js
+++ b/packages/react-native-renderer/src/legacy-events/ReactSyntheticEventType.js
@@ -16,6 +16,7 @@ export type DispatchConfig = {|
   phasedRegistrationNames: {|
     bubbled: null | string,
     captured: null | string,
+    skipBubbling?: ?boolean,
   |},
   registrationName?: string,
 |};
@@ -24,6 +25,7 @@ export type CustomDispatchConfig = {|
   phasedRegistrationNames: {|
     bubbled: null,
     captured: null,
+    skipBubbling?: ?boolean,
   |},
   registrationName?: string,
   customEvent: true,
diff --git a/scripts/rollup/shims/react-native/ReactNativeViewConfigRegistry.js b/scripts/rollup/shims/react-native/ReactNativeViewConfigRegistry.js
index 194a91e31ae62..de5211f09be91 100644
--- a/scripts/rollup/shims/react-native/ReactNativeViewConfigRegistry.js
+++ b/scripts/rollup/shims/react-native/ReactNativeViewConfigRegistry.js
@@ -19,6 +19,7 @@ const customBubblingEventTypes: {
     phasedRegistrationNames: $ReadOnly<{|
       captured: string,
       bubbled: string,
+      skipBubbling?: ?boolean,
     |}>,
   |}>,
   ...,