diff --git a/CHANGELOG.md b/CHANGELOG.md
index a6e34271000..8902666d1f4 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,19 @@
+# [3.5.0-rc.1](https://github.com/vuejs/core/compare/v3.5.0-beta.3...v3.5.0-rc.1) (2024-08-29)
+
+
+### Bug Fixes
+
+* **compiler-sfc:** skip circular tsconfig project reference ([#11680](https://github.com/vuejs/core/issues/11680)) ([9c4c2e5](https://github.com/vuejs/core/commit/9c4c2e51b045218d0c5ca64b4fb58b17d5d580cc)), closes [#11382](https://github.com/vuejs/core/issues/11382)
+* **custom-element:** handle keys set on custom elements ([#11655](https://github.com/vuejs/core/issues/11655)) ([f1d1831](https://github.com/vuejs/core/commit/f1d1831f07fe52d5681a5ec9ec310572463abf26)), closes [#11641](https://github.com/vuejs/core/issues/11641)
+* **deps:** update dependency monaco-editor to ^0.51.0 ([#11713](https://github.com/vuejs/core/issues/11713)) ([434f8a9](https://github.com/vuejs/core/commit/434f8a97c77f68aeae050e9e4e1f54f63bc4bd26))
+* **keep-alive:**  reset keep alive flag when the component is removed from include ([#11718](https://github.com/vuejs/core/issues/11718)) ([29c321b](https://github.com/vuejs/core/commit/29c321bfd33f9197244dec3d027077e63b2cdf2f)), closes [#11717](https://github.com/vuejs/core/issues/11717)
+* **reactivity:** avoid infinite recursion when mutating ref wrapped in reactive ([313e4bf](https://github.com/vuejs/core/commit/313e4bf55214ac1e334a99c329a3ba5daca4f156)), closes [#11696](https://github.com/vuejs/core/issues/11696)
+* **reactivity:** ensure watcher with once: true are properly removed from effect scope  ([#11665](https://github.com/vuejs/core/issues/11665)) ([fbc0c42](https://github.com/vuejs/core/commit/fbc0c42bcf6dea5a6ae664223fa19d4375ca39f0))
+* **runtime-dom:** setting innerHTML when patching props should go through trusted types ([d875de5](https://github.com/vuejs/core/commit/d875de54e9e03e0768fe550aa4c4886a4baf3bd7))
+* **types:** GlobalDirective / GlobalComponents should not be records ([42e8df6](https://github.com/vuejs/core/commit/42e8df62030e7f2c287d9103f045e67b34a63e3b))
+
+
+
 # [3.5.0-beta.3](https://github.com/vuejs/core/compare/v3.5.0-beta.2...v3.5.0-beta.3) (2024-08-20)
 
 
diff --git a/package.json b/package.json
index 8e881c77b10..12e5ac2be35 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "private": true,
-  "version": "3.5.0-beta.3",
+  "version": "3.5.0-rc.1",
   "packageManager": "pnpm@9.9.0",
   "type": "module",
   "scripts": {
diff --git a/packages/compiler-core/package.json b/packages/compiler-core/package.json
index ca07d47bf0c..9427241a911 100644
--- a/packages/compiler-core/package.json
+++ b/packages/compiler-core/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-core",
-  "version": "3.5.0-beta.3",
+  "version": "3.5.0-rc.1",
   "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 bb453aa9f97..a0132d0bcdb 100644
--- a/packages/compiler-dom/package.json
+++ b/packages/compiler-dom/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-dom",
-  "version": "3.5.0-beta.3",
+  "version": "3.5.0-rc.1",
   "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 c81453cd3bd..2357e3d6be3 100644
--- a/packages/compiler-sfc/package.json
+++ b/packages/compiler-sfc/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-sfc",
-  "version": "3.5.0-beta.3",
+  "version": "3.5.0-rc.1",
   "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 57f40fb04a2..e28d1fa1b53 100644
--- a/packages/compiler-ssr/package.json
+++ b/packages/compiler-ssr/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-ssr",
-  "version": "3.5.0-beta.3",
+  "version": "3.5.0-rc.1",
   "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 90be7e33874..970406c77b6 100644
--- a/packages/reactivity/package.json
+++ b/packages/reactivity/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/reactivity",
-  "version": "3.5.0-beta.3",
+  "version": "3.5.0-rc.1",
   "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 de9e0317b7a..edae3edb745 100644
--- a/packages/runtime-core/package.json
+++ b/packages/runtime-core/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/runtime-core",
-  "version": "3.5.0-beta.3",
+  "version": "3.5.0-rc.1",
   "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 459fa3a7d5e..37adca5ea4a 100644
--- a/packages/runtime-dom/package.json
+++ b/packages/runtime-dom/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/runtime-dom",
-  "version": "3.5.0-beta.3",
+  "version": "3.5.0-rc.1",
   "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 0a1d38c0587..a8f30e150dc 100644
--- a/packages/server-renderer/package.json
+++ b/packages/server-renderer/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/server-renderer",
-  "version": "3.5.0-beta.3",
+  "version": "3.5.0-rc.1",
   "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 f2767bf6548..07699da9340 100644
--- a/packages/shared/package.json
+++ b/packages/shared/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/shared",
-  "version": "3.5.0-beta.3",
+  "version": "3.5.0-rc.1",
   "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 357e684e4c8..8ce027fda9e 100644
--- a/packages/vue-compat/package.json
+++ b/packages/vue-compat/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compat",
-  "version": "3.5.0-beta.3",
+  "version": "3.5.0-rc.1",
   "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 095d1fa05ba..f2fd0448451 100644
--- a/packages/vue/package.json
+++ b/packages/vue/package.json
@@ -1,6 +1,6 @@
 {
   "name": "vue",
-  "version": "3.5.0-beta.3",
+  "version": "3.5.0-rc.1",
   "description": "The progressive JavaScript framework for building modern web UI.",
   "main": "index.js",
   "module": "dist/vue.runtime.esm-bundler.js",