diff --git a/examples/parcel/package.json b/examples/parcel/package.json
index 377f2b391a..5e5ef7bcdd 100644
--- a/examples/parcel/package.json
+++ b/examples/parcel/package.json
@@ -10,8 +10,8 @@
   "dependencies": {
     "@compiled/babel-component-extracted-fixture": "*",
     "@compiled/react": "*",
-    "react": "17.0.2",
-    "react-dom": "17.0.2"
+    "react": "18.2.0",
+    "react-dom": "18.2.0"
   },
   "devDependencies": {
     "@babel/plugin-proposal-decorators": "^7.22.15",
diff --git a/examples/ssr/package.json b/examples/ssr/package.json
index 01e97eaae8..785374a2f9 100644
--- a/examples/ssr/package.json
+++ b/examples/ssr/package.json
@@ -12,8 +12,8 @@
     "@babel/helper-builder-react-jsx-experimental": "^7.12.11",
     "@compiled/react": "*",
     "express": "4.18.2",
-    "react": "17.0.2",
-    "react-dom": "17.0.2"
+    "react": "18.2.0",
+    "react-dom": "18.2.0"
   },
   "devDependencies": {
     "babel-preset-razzle": "^4.2.18",
diff --git a/examples/webpack/package.json b/examples/webpack/package.json
index a806044e4e..d43e26f161 100644
--- a/examples/webpack/package.json
+++ b/examples/webpack/package.json
@@ -16,8 +16,8 @@
     "css-minimizer-webpack-plugin": "^5.0.0",
     "html-webpack-plugin": "^5.5.0",
     "mini-css-extract-plugin": "^1.6.2",
-    "react": "^17.0.2",
-    "react-dom": "^17.0.2",
+    "react": "^18.2.0",
+    "react-dom": "^18.2.0",
     "style-loader": "^3.3.2",
     "webpack": "^5.76.1",
     "webpack-cli": "^5.0.1"
diff --git a/fixtures/babel-component-extracted/package.json b/fixtures/babel-component-extracted/package.json
index c428ea5071..a1857b1f2d 100644
--- a/fixtures/babel-component-extracted/package.json
+++ b/fixtures/babel-component-extracted/package.json
@@ -18,6 +18,6 @@
     "@compiled/babel-plugin-strip-runtime": "*"
   },
   "peerDependencies": {
-    "react": "^17.0.1"
+    "react": "^17.0.1 || ^18.0.0"
   }
 }
diff --git a/fixtures/babel-component/package.json b/fixtures/babel-component/package.json
index 4d110b4639..7d944a6c67 100644
--- a/fixtures/babel-component/package.json
+++ b/fixtures/babel-component/package.json
@@ -17,6 +17,6 @@
     "@compiled/babel-plugin": "*"
   },
   "peerDependencies": {
-    "react": "^17.0.1"
+    "react": "^17.0.1 || ^18.0.0"
   }
 }
diff --git a/fixtures/parcel-optimizer-test-app/package.json b/fixtures/parcel-optimizer-test-app/package.json
index ff7d3b3420..2132ead676 100644
--- a/fixtures/parcel-optimizer-test-app/package.json
+++ b/fixtures/parcel-optimizer-test-app/package.json
@@ -4,8 +4,8 @@
   "private": true,
   "dependencies": {
     "@compiled/react": "^0.16.0",
-    "react": "^17.0.2",
-    "react-dom": "^17.0.2"
+    "react": "^18.2.0",
+    "react-dom": "^18.2.0"
   },
   "devDependencies": {
     "@compiled/parcel-optimizer": "*",
diff --git a/fixtures/parcel-transformer-test-app/package.json b/fixtures/parcel-transformer-test-app/package.json
index 4e570553f4..fecebcf97a 100644
--- a/fixtures/parcel-transformer-test-app/package.json
+++ b/fixtures/parcel-transformer-test-app/package.json
@@ -4,8 +4,8 @@
   "private": true,
   "dependencies": {
     "@compiled/react": "^0.16.0",
-    "react": "^17.0.2",
-    "react-dom": "^17.0.2"
+    "react": "^18.2.0",
+    "react-dom": "^18.2.0"
   },
   "devDependencies": {
     "@compiled/parcel-transformer": "*",
diff --git a/fixtures/parcel-transformer-test-compress-class-name-app/package.json b/fixtures/parcel-transformer-test-compress-class-name-app/package.json
index 3c5bdb0f85..b3d6e9ceb5 100644
--- a/fixtures/parcel-transformer-test-compress-class-name-app/package.json
+++ b/fixtures/parcel-transformer-test-compress-class-name-app/package.json
@@ -4,8 +4,8 @@
   "private": true,
   "dependencies": {
     "@compiled/react": "^0.16.0",
-    "react": "^17.0.2",
-    "react-dom": "^17.0.2"
+    "react": "^18.2.0",
+    "react-dom": "^18.2.0"
   },
   "devDependencies": {
     "@compiled/parcel-transformer": "*",
diff --git a/fixtures/parcel-transformer-test-custom-resolve-app/package.json b/fixtures/parcel-transformer-test-custom-resolve-app/package.json
index 0e27cb8207..ba48f02151 100644
--- a/fixtures/parcel-transformer-test-custom-resolve-app/package.json
+++ b/fixtures/parcel-transformer-test-custom-resolve-app/package.json
@@ -4,8 +4,8 @@
   "private": true,
   "dependencies": {
     "@compiled/react": "^0.16.0",
-    "react": "^17.0.2",
-    "react-dom": "^17.0.2"
+    "react": "^18.2.0",
+    "react-dom": "^18.2.0"
   },
   "devDependencies": {
     "@compiled/parcel-transformer": "*",
diff --git a/fixtures/parcel-transformer-test-custom-resolver-app/package.json b/fixtures/parcel-transformer-test-custom-resolver-app/package.json
index 3ceaa80e14..563ad2c322 100644
--- a/fixtures/parcel-transformer-test-custom-resolver-app/package.json
+++ b/fixtures/parcel-transformer-test-custom-resolver-app/package.json
@@ -4,8 +4,8 @@
   "private": true,
   "dependencies": {
     "@compiled/react": "^0.16.0",
-    "react": "^17.0.2",
-    "react-dom": "^17.0.2"
+    "react": "^18.2.0",
+    "react-dom": "^18.2.0"
   },
   "devDependencies": {
     "@compiled/parcel-transformer": "*",
diff --git a/fixtures/parcel-transformer-test-extract-app/package.json b/fixtures/parcel-transformer-test-extract-app/package.json
index 99e0f4bac4..6a3a6e3c59 100644
--- a/fixtures/parcel-transformer-test-extract-app/package.json
+++ b/fixtures/parcel-transformer-test-extract-app/package.json
@@ -4,8 +4,8 @@
   "private": true,
   "dependencies": {
     "@compiled/react": "^0.16.0",
-    "react": "^17.0.2",
-    "react-dom": "^17.0.2"
+    "react": "^18.2.0",
+    "react-dom": "^18.2.0"
   },
   "devDependencies": {
     "@compiled/babel-component-extracted-fixture": "*",
diff --git a/package.json b/package.json
index ddacbd5c42..2a60695908 100644
--- a/package.json
+++ b/package.json
@@ -98,8 +98,8 @@
     "loki": "^0.32.0",
     "prettier": "^2.8.8",
     "pretty-quick": "^3.1.3",
-    "react": "^17.0.2",
-    "react-dom": "^17.0.2",
+    "react": "^18.2.0",
+    "react-dom": "^18.2.0",
     "size-limit": "^8.1.2",
     "storybook-addon-performance": "^0.16.1",
     "storybook-addon-pseudo-states": "^1.15.5",
diff --git a/packages/react/package.json b/packages/react/package.json
index afe384209a..0630f73c4b 100644
--- a/packages/react/package.json
+++ b/packages/react/package.json
@@ -82,8 +82,8 @@
     "@types/react-dom": "^17.0.22",
     "expect-type": "^0.17.3",
     "jsdom": "^19.0.0",
-    "react": "^17.0.2",
-    "react-dom": "^17.0.2"
+    "react": "^18.2.0",
+    "react-dom": "^18.2.0"
   },
   "peerDependencies": {
     "react": ">= 16.12.0"
diff --git a/packages/webpack-loader/package.json b/packages/webpack-loader/package.json
index f81c6aa4ad..1b73eeeb3c 100644
--- a/packages/webpack-loader/package.json
+++ b/packages/webpack-loader/package.json
@@ -36,7 +36,7 @@
     "css-loader": "^6.7.3",
     "memfs": "^3.5.3",
     "mini-css-extract-plugin": "^1.6.2",
-    "react": "^17.0.2",
+    "react": "^18.2.0",
     "ts-node": "^10.9.1",
     "tsconfig-paths": "^4.1.2",
     "webpack": "^5.76.1"
diff --git a/yarn.lock b/yarn.lock
index 06cd847ab5..2f6aee5134 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -15319,14 +15319,13 @@ react-docgen@^5.0.0:
     node-dir "^0.1.10"
     strip-indent "^3.0.0"
 
-react-dom@17.0.2, react-dom@^17.0.2:
-  version "17.0.2"
-  resolved "https://registry.yarnpkg.com/react-dom/-/react-dom-17.0.2.tgz#ecffb6845e3ad8dbfcdc498f0d0a939736502c23"
-  integrity sha512-s4h96KtLDUQlsENhMn1ar8t2bEa+q/YAtj8pPPdIjPDGBDIVNsrD9aXNWqspUe6AzKCIG0C1HZZLqLV7qpOBGA==
+react-dom@18.2.0, react-dom@^18.2.0:
+  version "18.2.0"
+  resolved "https://registry.yarnpkg.com/react-dom/-/react-dom-18.2.0.tgz#22aaf38708db2674ed9ada224ca4aa708d821e3d"
+  integrity sha512-6IMTriUmvsjHUjNtEDudZfuDQUoWXVxKHhlEGSk81n4YFS+r/Kl99wXiwlVXtPBtJenozv2P+hxDsw9eA7Xo6g==
   dependencies:
     loose-envify "^1.1.0"
-    object-assign "^4.1.1"
-    scheduler "^0.20.2"
+    scheduler "^0.23.0"
 
 react-element-to-jsx-string@^14.3.4:
   version "14.3.4"
@@ -15381,7 +15380,14 @@ react-refresh@^0.9.0:
   resolved "https://registry.yarnpkg.com/react-refresh/-/react-refresh-0.9.0.tgz#71863337adc3e5c2f8a6bfddd12ae3bfe32aafbf"
   integrity sha512-Gvzk7OZpiqKSkxsQvO/mbTN1poglhmAV7gR/DdIrRrSMXraRQQlfikRJOr3Nb9GTMPC5kof948Zy6jJZIFtDvQ==
 
-react@17.0.2, react@^17.0.2:
+react@18.2.0, react@^18.2.0:
+  version "18.2.0"
+  resolved "https://registry.yarnpkg.com/react/-/react-18.2.0.tgz#555bd98592883255fa00de14f1151a917b5d77d5"
+  integrity sha512-/3IjMdb2L9QbBdWiW5e3P2/npwMBaU9mHCSCUzNln0ZCYbcfTsGbTJrU/kGemdH2IWmB2ioZ+zkxtmq6g09fGQ==
+  dependencies:
+    loose-envify "^1.1.0"
+
+react@^17.0.2:
   version "17.0.2"
   resolved "https://registry.yarnpkg.com/react/-/react-17.0.2.tgz#d0b5cc516d29eb3eee383f75b62864cfb6800037"
   integrity sha512-gnhPt75i/dq/z3/6q/0asP78D0u592D5L1pd7M8P+dck6Fu/jJeL6iVVK23fptSUZj8Vjf++7wXA8UNclGQcbA==
@@ -15993,6 +15999,13 @@ scheduler@^0.20.2:
     loose-envify "^1.1.0"
     object-assign "^4.1.1"
 
+scheduler@^0.23.0:
+  version "0.23.0"
+  resolved "https://registry.yarnpkg.com/scheduler/-/scheduler-0.23.0.tgz#ba8041afc3d30eb206a487b6b384002e4e61fdfe"
+  integrity sha512-CtuThmgHNg7zIZWAXi3AsyIzA3n4xx7aNyjwC2VJldO2LMVDhFK+63xGqq6CsJH4rTAt6/M+N4GhZiDYPx9eUw==
+  dependencies:
+    loose-envify "^1.1.0"
+
 schema-utils@2.7.0:
   version "2.7.0"
   resolved "https://registry.yarnpkg.com/schema-utils/-/schema-utils-2.7.0.tgz#17151f76d8eae67fbbf77960c33c676ad9f4efc7"