diff --git a/.github/workflow-scripts/__tests__/createDraftRelease-test.js b/.github/workflow-scripts/__tests__/createDraftRelease-test.js
new file mode 100644
index 00000000000000..77901d4df0999e
--- /dev/null
+++ b/.github/workflow-scripts/__tests__/createDraftRelease-test.js
@@ -0,0 +1,305 @@
+/**
+ * Copyright (c) Meta Platforms, Inc. and affiliates.
+ *
+ * This source code is licensed under the MIT license found in the
+ * LICENSE file in the root directory of this source tree.
+ *
+ * @format
+ */
+
+const {
+  _verifyTagExists,
+  _extractChangelog,
+  _computeBody,
+  _createDraftReleaseOnGitHub,
+} = require('../createDraftRelease');
+
+const fs = require('fs');
+
+const silence = () => {};
+const mockFetch = jest.fn();
+
+jest.mock('../utils.js', () => ({
+  log: silence,
+}));
+
+global.fetch = mockFetch;
+
+describe('Create Draft Release', () => {
+  beforeEach(jest.clearAllMocks);
+
+  describe('#_verifyTagExists', () => {
+    it('throws if the tag does not exists', async () => {
+      const token = 'token';
+      mockFetch.mockReturnValueOnce(Promise.resolve({status: 404}));
+
+      await expect(_verifyTagExists('0.77.1')).rejects.toThrowError(
+        `Tag v0.77.1 does not exist`,
+      );
+      expect(mockFetch).toHaveBeenCalledTimes(1);
+      expect(mockFetch).toHaveBeenCalledWith(
+        'https://github.com/facebook/react-native/releases/tag/v0.77.1',
+      );
+    });
+  });
+
+  describe('#_extractChangelog', () => {
+    it(`extracts changelog from CHANGELOG.md`, async () => {
+      const mockedReturnValue = `# Changelog
+
+## v0.77.2
+
+- [PR #1234](https://github.com/facebook/react-native/pull/1234) - Some change
+- [PR #5678](https://github.com/facebook/react-native/pull/5678) - Some other change
+
+
+## v0.77.1
+### Breaking Changes
+- [PR #9012](https://github.com/facebook/react-native/pull/9012) - Some other change
+
+#### Android
+- [PR #3456](https://github.com/facebook/react-native/pull/3456) - Some other change
+- [PR #3457](https://github.com/facebook/react-native/pull/3457) - Some other change
+
+#### iOS
+- [PR #3436](https://github.com/facebook/react-native/pull/3436) - Some other change
+- [PR #3437](https://github.com/facebook/react-native/pull/3437) - Some other change
+
+### Fixed
+- [PR #9012](https://github.com/facebook/react-native/pull/9012) - Some other change
+
+#### Android
+- [PR #3456](https://github.com/facebook/react-native/pull/3456) - Some other change
+
+#### iOS
+- [PR #3437](https://github.com/facebook/react-native/pull/3437) - Some other change
+
+
+## v0.77.0
+
+- [PR #3456](https://github.com/facebook/react-native/pull/3456) - Some other change
+
+## v0.76.0
+
+- [PR #7890](https://github.com/facebook/react-native/pull/7890) - Some other change`;
+
+      jest.spyOn(fs, 'readFileSync').mockImplementationOnce(func => {
+        return mockedReturnValue;
+      });
+      const changelog = _extractChangelog('0.77.1');
+      expect(changelog).toEqual(`## v0.77.1
+### Breaking Changes
+- [PR #9012](https://github.com/facebook/react-native/pull/9012) - Some other change
+
+#### Android
+- [PR #3456](https://github.com/facebook/react-native/pull/3456) - Some other change
+- [PR #3457](https://github.com/facebook/react-native/pull/3457) - Some other change
+
+#### iOS
+- [PR #3436](https://github.com/facebook/react-native/pull/3436) - Some other change
+- [PR #3437](https://github.com/facebook/react-native/pull/3437) - Some other change
+
+### Fixed
+- [PR #9012](https://github.com/facebook/react-native/pull/9012) - Some other change
+
+#### Android
+- [PR #3456](https://github.com/facebook/react-native/pull/3456) - Some other change
+
+#### iOS
+- [PR #3437](https://github.com/facebook/react-native/pull/3437) - Some other change`);
+    });
+
+    it('does not extract changelog for rc.0', async () => {
+      const changelog = _extractChangelog('0.77.0-rc.0');
+      expect(changelog).toEqual('');
+    });
+
+    it('does not extract changelog for 0.X.0', async () => {
+      const changelog = _extractChangelog('0.77.0');
+      expect(changelog).toEqual('');
+    });
+  });
+
+  describe('#_computeBody', () => {
+    it('computes body for release', async () => {
+      const version = '0.77.1';
+      const changelog = `## v${version}
+### Breaking Changes
+- [PR #9012](https://github.com/facebook/react-native/pull/9012) - Some other change
+
+#### Android
+- [PR #3456](https://github.com/facebook/react-native/pull/3456) - Some other change
+- [PR #3457](https://github.com/facebook/react-native/pull/3457) - Some other change
+
+#### iOS
+- [PR #3436](https://github.com/facebook/react-native/pull/3436) - Some other change
+- [PR #3437](https://github.com/facebook/react-native/pull/3437) - Some other change`;
+      const body = _computeBody(version, changelog);
+
+      expect(body).toEqual(`${changelog}
+
+---
+
+Hermes dSYMS:
+- [Debug](https://repo1.maven.org/maven2/com/facebook/react/react-native-artifacts/${version}/react-native-artifacts-${version}-hermes-framework-dSYM-debug.tar.gz)
+- [Release](https://repo1.maven.org/maven2/com/facebook/react/react-native-artifacts/${version}/react-native-artifacts-${version}-hermes-framework-dSYM-release.tar.gz)
+
+ReactNativeDependencies dSYMs:
+- [Debug](https://repo1.maven.org/maven2/com/facebook/react/react-native-artifacts/${version}/react-native-artifacts-${version}-reactnative-dependencies-dSYM-debug.tar.gz)
+- [Release](https://repo1.maven.org/maven2/com/facebook/react/react-native-artifacts/${version}/react-native-artifacts-${version}-reactnative-dependencies-dSYM-release.tar.gz)
+
+---
+
+You can file issues or pick requests against this release [here](https://github.com/reactwg/react-native-releases/issues/new/choose).
+
+---
+
+To help you upgrade to this version, you can use the [Upgrade Helper](https://react-native-community.github.io/upgrade-helper/) ⚛️.
+
+---
+
+View the whole changelog in the [CHANGELOG.md file](https://github.com/facebook/react-native/blob/main/CHANGELOG.md).`);
+    });
+  });
+
+  describe('#_createDraftReleaseOnGitHub', () => {
+    it('creates a draft release on GitHub', async () => {
+      const version = '0.77.1';
+      const url = 'https://api.github.com/repos/facebook/react-native/releases';
+      const token = 'token';
+      const headers = {
+        Accept: 'Accept: application/vnd.github+json',
+        'X-GitHub-Api-Version': '2022-11-28',
+        Authorization: `Bearer ${token}`,
+      };
+      const body = `Draft release body`;
+      const latest = true;
+      const fetchBody = JSON.stringify({
+        tag_name: `v${version}`,
+        name: `${version}`,
+        body: body,
+        draft: true,
+        prerelease: false,
+        make_latest: `${latest}`,
+      });
+
+      mockFetch.mockReturnValueOnce(
+        Promise.resolve({
+          status: 201,
+          json: () =>
+            Promise.resolve({
+              html_url:
+                'https://github.com/facebook/react-native/releases/tag/v0.77.1',
+            }),
+        }),
+      );
+      const response = await _createDraftReleaseOnGitHub(
+        version,
+        body,
+        latest,
+        token,
+      );
+      expect(mockFetch).toHaveBeenCalledTimes(1);
+      expect(mockFetch).toHaveBeenCalledWith(
+        `https://api.github.com/repos/facebook/react-native/releases`,
+        {
+          method: 'POST',
+          headers: headers,
+          body: fetchBody,
+        },
+      );
+      expect(response).toEqual(
+        'https://github.com/facebook/react-native/releases/tag/v0.77.1',
+      );
+    });
+
+    it('creates a draft release for prerelease on GitHub', async () => {
+      const version = '0.77.0-rc.2';
+      const url = 'https://api.github.com/repos/facebook/react-native/releases';
+      const token = 'token';
+      const headers = {
+        Accept: 'Accept: application/vnd.github+json',
+        'X-GitHub-Api-Version': '2022-11-28',
+        Authorization: `Bearer ${token}`,
+      };
+      const body = `Draft release body`;
+      const latest = true;
+      const fetchBody = JSON.stringify({
+        tag_name: `v${version}`,
+        name: `${version}`,
+        body: body,
+        draft: true,
+        prerelease: true,
+        make_latest: `${latest}`,
+      });
+
+      mockFetch.mockReturnValueOnce(
+        Promise.resolve({
+          status: 201,
+          json: () =>
+            Promise.resolve({
+              html_url:
+                'https://github.com/facebook/react-native/releases/tag/v0.77.1',
+            }),
+        }),
+      );
+      const response = await _createDraftReleaseOnGitHub(
+        version,
+        body,
+        latest,
+        token,
+      );
+      expect(mockFetch).toHaveBeenCalledTimes(1);
+      expect(mockFetch).toHaveBeenCalledWith(
+        `https://api.github.com/repos/facebook/react-native/releases`,
+        {
+          method: 'POST',
+          headers: headers,
+          body: fetchBody,
+        },
+      );
+      expect(response).toEqual(
+        'https://github.com/facebook/react-native/releases/tag/v0.77.1',
+      );
+    });
+
+    it('throws if the post failes', async () => {
+      const version = '0.77.0-rc.2';
+      const url = 'https://api.github.com/repos/facebook/react-native/releases';
+      const token = 'token';
+      const headers = {
+        Accept: 'Accept: application/vnd.github+json',
+        'X-GitHub-Api-Version': '2022-11-28',
+        Authorization: `Bearer ${token}`,
+      };
+      const body = `Draft release body`;
+      const latest = true;
+      const fetchBody = JSON.stringify({
+        tag_name: `v${version}`,
+        name: `${version}`,
+        body: body,
+        draft: true,
+        prerelease: true,
+        make_latest: `${latest}`,
+      });
+
+      mockFetch.mockReturnValueOnce(
+        Promise.resolve({
+          status: 401,
+        }),
+      );
+      await expect(
+        _createDraftReleaseOnGitHub(version, body, latest, token),
+      ).rejects.toThrowError();
+      expect(mockFetch).toHaveBeenCalledTimes(1);
+      expect(mockFetch).toHaveBeenCalledWith(
+        `https://api.github.com/repos/facebook/react-native/releases`,
+        {
+          method: 'POST',
+          headers: headers,
+          body: fetchBody,
+        },
+      );
+    });
+  });
+});
diff --git a/.github/workflow-scripts/createDraftRelease.js b/.github/workflow-scripts/createDraftRelease.js
new file mode 100644
index 00000000000000..f8737c3cbfda4c
--- /dev/null
+++ b/.github/workflow-scripts/createDraftRelease.js
@@ -0,0 +1,137 @@
+/**
+ * Copyright (c) Meta Platforms, Inc. and affiliates.
+ *
+ * This source code is licensed under the MIT license found in the
+ * LICENSE file in the root directory of this source tree.
+ *
+ * @format
+ */
+
+const {log, run} = require('./utils');
+const fs = require('fs');
+
+function _headers(token) {
+  return {
+    Accept: 'Accept: application/vnd.github+json',
+    'X-GitHub-Api-Version': '2022-11-28',
+    Authorization: `Bearer ${token}`,
+  };
+}
+
+function _extractChangelog(version) {
+  if (version.endsWith('.0')) {
+    // for RC.0 and for the release of a new stable minor, the changelog is too long
+    // to be added in a release. The release body is usually something shorter.
+    // See for example the release for 0.76.0 or 0.77.0:
+    // 0.76: https://github.com/facebook/react-native/releases/tag/v0.76.0
+    // 0.77: https://github.com/facebook/react-native/releases/tag/v0.77.0
+    return '';
+  }
+  const changelog = String(fs.readFileSync('CHANGELOG.md', 'utf8')).split('\n');
+  const changelogStarts = changelog.indexOf(`## v${version}`);
+  let changelogEnds = changelogStarts;
+  // Scan the changelog to find the next version
+  for (var line = changelogStarts + 1; line < changelog.length; line++) {
+    if (changelog[line].startsWith('## ')) {
+      changelogEnds = line;
+      break;
+    }
+  }
+  return changelog.slice(changelogStarts, changelogEnds).join('\n').trim();
+}
+
+function _computeBody(version, changelog) {
+  return `${changelog}
+
+---
+
+Hermes dSYMS:
+- [Debug](https://repo1.maven.org/maven2/com/facebook/react/react-native-artifacts/${version}/react-native-artifacts-${version}-hermes-framework-dSYM-debug.tar.gz)
+- [Release](https://repo1.maven.org/maven2/com/facebook/react/react-native-artifacts/${version}/react-native-artifacts-${version}-hermes-framework-dSYM-release.tar.gz)
+
+ReactNativeDependencies dSYMs:
+- [Debug](https://repo1.maven.org/maven2/com/facebook/react/react-native-artifacts/${version}/react-native-artifacts-${version}-reactnative-dependencies-dSYM-debug.tar.gz)
+- [Release](https://repo1.maven.org/maven2/com/facebook/react/react-native-artifacts/${version}/react-native-artifacts-${version}-reactnative-dependencies-dSYM-release.tar.gz)
+
+---
+
+You can file issues or pick requests against this release [here](https://github.com/reactwg/react-native-releases/issues/new/choose).
+
+---
+
+To help you upgrade to this version, you can use the [Upgrade Helper](https://react-native-community.github.io/upgrade-helper/) ⚛️.
+
+---
+
+View the whole changelog in the [CHANGELOG.md file](https://github.com/facebook/react-native/blob/main/CHANGELOG.md).`;
+}
+
+async function _verifyTagExists(version) {
+  const url = `https://github.com/facebook/react-native/releases/tag/v${version}`;
+
+  const response = await fetch(url);
+  if (response.status === 404) {
+    throw new Error(`Tag v${version} does not exist`);
+  }
+}
+
+async function _createDraftReleaseOnGitHub(version, body, latest, token) {
+  const url = 'https://api.github.com/repos/facebook/react-native/releases';
+  const method = 'POST';
+  const headers = _headers(token);
+  const fetchBody = JSON.stringify({
+    tag_name: `v${version}`,
+    name: `${version}`,
+    body: body,
+    draft: true, // NEVER CHANGE this value to false. If false, it will publish the release, and send a GH notification to all the subscribers.
+    prerelease: version.includes('-rc.') ? true : false,
+    make_latest: `${latest}`,
+  });
+
+  const response = await fetch(url, {
+    method,
+    headers,
+    body: fetchBody,
+  });
+
+  if (response.status !== 201) {
+    throw new Error(
+      `Failed to create the release: ${response.status} ${response.statusText}`,
+    );
+  }
+
+  const data = await response.json();
+  return data.html_url;
+}
+
+function moveToChangelogBranch(version) {
+  log(`Moving to changelog branch: changelog/v${version}`);
+  run(`git checkout -b changelog/v${version}`);
+}
+
+async function createDraftRelease(version, latest, token) {
+  if (version.startsWith('v')) {
+    version = version.substring(1);
+  }
+
+  _verifyTagExists(version);
+  moveToChangelogBranch(version);
+  const changelog = _extractChangelog(version);
+  const body = _computeBody(version, changelog);
+  const release = await _createDraftReleaseOnGitHub(
+    version,
+    body,
+    latest,
+    token,
+  );
+  log(`Created draft release: ${release}`);
+}
+
+module.exports = {
+  createDraftRelease,
+  // Exported for testing purposes
+  _verifyTagExists,
+  _extractChangelog,
+  _computeBody,
+  _createDraftReleaseOnGitHub,
+};
diff --git a/.github/workflows/create-draft-release.yml b/.github/workflows/create-draft-release.yml
new file mode 100644
index 00000000000000..dd17c5bc1c3fb8
--- /dev/null
+++ b/.github/workflows/create-draft-release.yml
@@ -0,0 +1,29 @@
+name: Create Draft Release
+
+on:
+  workflow_call:
+
+jobs:
+  create-draft-release:
+    runs-on: ubuntu-latest
+    steps:
+      - name: Checkout repository
+        uses: actions/checkout@v4
+        with:
+          fetch-depth: 0
+          fetch-tags: true
+      - name: Install dependencies
+        uses: ./.github/actions/yarn-install
+      - name: Configure Git
+        shell: bash
+        run: |
+          git config --local user.email "bot@reactnative.dev"
+          git config --local user.name "React Native Bot"
+      - name: Create draft release
+        uses: actions/github-script@v6
+        with:
+          script: |
+            const {createDraftRelease} = require('./.github/workflow-scripts/createDraftRelease.js');
+            const version = ${{ github.ref_name }}';
+            const {isLatest} = require('./.github/workflow-scripts/publishTemplate.js');
+            await createDraftRelease(version, isLatest(), '${{secrets.REACT_NATIVE_BOT_GITHUB_TOKEN}}');
diff --git a/.github/workflows/publish-release.yml b/.github/workflows/publish-release.yml
index c6724c8253081e..be8c89f779c9b4 100644
--- a/.github/workflows/publish-release.yml
+++ b/.github/workflows/publish-release.yml
@@ -243,7 +243,12 @@ jobs:
     uses: ./.github/workflows/generate-changelog.yml
     secrets: inherit
 
-  bump-podfile-lock:
+  bump_podfile_lock:
     needs: build_npm_package
     uses: ./.github/workflows/bump-podfile-lock.yml
     secrets: inherit
+
+  create_draft_release:
+    needs: generate_changelog
+    uses: ./.github/workflows/create-draft-release.yml
+    secrets: inherit