diff --git a/.yarn/versions/a4a640ca.yml b/.yarn/versions/a4a640ca.yml
new file mode 100644
index 00000000000..db19e4d46ba
--- /dev/null
+++ b/.yarn/versions/a4a640ca.yml
@@ -0,0 +1,36 @@
+releases:
+  "@yarnpkg/core": patch
+  "@yarnpkg/plugin-catalog": patch
+
+declined:
+  - "@yarnpkg/plugin-compat"
+  - "@yarnpkg/plugin-constraints"
+  - "@yarnpkg/plugin-dlx"
+  - "@yarnpkg/plugin-essentials"
+  - "@yarnpkg/plugin-exec"
+  - "@yarnpkg/plugin-file"
+  - "@yarnpkg/plugin-git"
+  - "@yarnpkg/plugin-github"
+  - "@yarnpkg/plugin-http"
+  - "@yarnpkg/plugin-init"
+  - "@yarnpkg/plugin-interactive-tools"
+  - "@yarnpkg/plugin-jsr"
+  - "@yarnpkg/plugin-link"
+  - "@yarnpkg/plugin-nm"
+  - "@yarnpkg/plugin-npm"
+  - "@yarnpkg/plugin-npm-cli"
+  - "@yarnpkg/plugin-pack"
+  - "@yarnpkg/plugin-patch"
+  - "@yarnpkg/plugin-pnp"
+  - "@yarnpkg/plugin-pnpm"
+  - "@yarnpkg/plugin-stage"
+  - "@yarnpkg/plugin-typescript"
+  - "@yarnpkg/plugin-version"
+  - "@yarnpkg/plugin-workspace-tools"
+  - "@yarnpkg/builder"
+  - "@yarnpkg/cli"
+  - "@yarnpkg/doctor"
+  - "@yarnpkg/extensions"
+  - "@yarnpkg/nm"
+  - "@yarnpkg/pnpify"
+  - "@yarnpkg/sdks"
diff --git a/packages/acceptance-tests/pkg-tests-specs/sources/features/catalogs.test.ts b/packages/acceptance-tests/pkg-tests-specs/sources/features/catalogs.test.ts
index 1fd90e92c54..5174d6f60b1 100644
--- a/packages/acceptance-tests/pkg-tests-specs/sources/features/catalogs.test.ts
+++ b/packages/acceptance-tests/pkg-tests-specs/sources/features/catalogs.test.ts
@@ -125,6 +125,9 @@ describe(`Features`, () => {
           devDependencies: {
             [`no-deps`]: `catalog:`,
           },
+          peerDependencies: {
+            [`no-deps`]: `catalog:`,
+          },
         },
         async ({path, run}) => {
           await yarn.writeConfiguration(path, {
@@ -336,5 +339,28 @@ describe(`Features`, () => {
         },
       ),
     );
+
+    test(
+      `it should work with catalog references in peer dependencies`,
+      makeTemporaryEnv(
+        {
+          peerDependencies: {
+            [`no-deps`]: `catalog:`,
+          },
+        },
+        async ({path, run}) => {
+          await yarn.writeConfiguration(path, {
+            catalog: {
+              [`no-deps`]: `2.0.0`,
+            },
+          });
+
+          await run(`install`);
+
+          const manifest = await xfs.readJsonPromise(`${path}/package.json` as PortablePath);
+          expect(manifest.peerDependencies[`no-deps`]).toBe(`catalog:`);
+        },
+      ),
+    );
   });
 });
diff --git a/packages/yarnpkg-core/sources/Manifest.ts b/packages/yarnpkg-core/sources/Manifest.ts
index 4123399053e..6f2061b2fae 100644
--- a/packages/yarnpkg-core/sources/Manifest.ts
+++ b/packages/yarnpkg-core/sources/Manifest.ts
@@ -377,7 +377,7 @@ export class Manifest {
           continue;
         }
 
-        if (typeof range !== `string` || (!range.startsWith(WorkspaceResolver.protocol) && !semverUtils.validRange(range))) {
+        if (typeof range !== `string` || (!range.startsWith(WorkspaceResolver.protocol) && !semverUtils.validRange(range)) && !range.startsWith(`catalog:`)) {
           errors.push(new Error(`Invalid dependency range for '${name}'`));
           range = `*`;
         }