diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index c272ef8770f..2a3867b13dd 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,3 +1,3 @@
 {
-	".": "2.53.0"
+	".": "2.54.0"
 }
diff --git a/CHANGELOG.md b/CHANGELOG.md
index a065d13beb8..28ae3690406 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,12 @@
 # Changelog
 
+## [2.54.0](https://github.com/microsoftgraph/msgraph-sdk-php/compare/v2.53.0...v2.54.0) (2026-01-07)
+
+
+### Features
+
+* **generation:** update request builders and models ([33774bc](https://github.com/microsoftgraph/msgraph-sdk-php/commit/33774bc03f6cbb9790e7e6deaacb4b4d8c9991dd))
+
 ## [2.53.0](https://github.com/microsoftgraph/msgraph-sdk-php/compare/v2.52.0...v2.53.0) (2025-12-17)
 
 
diff --git a/README.md b/README.md
index 63ee3f8df97..48b19c650ee 100644
--- a/README.md
+++ b/README.md
@@ -11,7 +11,7 @@ You can install the PHP SDK with Composer by editing your `composer.json` file:
 {
     "require": {
         // x-release-please-start-version
-        "microsoft/microsoft-graph": "^2.53.0"
+        "microsoft/microsoft-graph": "^2.54.0"
         // x-release-please-end
     }
 }
diff --git a/src/GraphConstants.php b/src/GraphConstants.php
index 0a34c0b4a35..b409ce815e0 100644
--- a/src/GraphConstants.php
+++ b/src/GraphConstants.php
@@ -20,6 +20,6 @@ final class GraphConstants
 {
     const API_VERSION = "v1.0";
     // x-release-please-start-version
-    const SDK_VERSION = "2.53.0";
+    const SDK_VERSION = "2.54.0";
     // x-release-please-end
 }