diff --git a/packages/terra-application/CHANGELOG.md b/packages/terra-application/CHANGELOG.md
index f804a606e..027a9072b 100644
--- a/packages/terra-application/CHANGELOG.md
+++ b/packages/terra-application/CHANGELOG.md
@@ -1,6 +1,9 @@
 # Changelog
 
 ## Unreleased
+
+## 1.54.1 - (November 11, 2022)
+
 * Fixed
   * Fixed utility menu to close on userAction button click.
 
diff --git a/packages/terra-application/package.json b/packages/terra-application/package.json
index 2b7c35471..3d58cdf20 100644
--- a/packages/terra-application/package.json
+++ b/packages/terra-application/package.json
@@ -1,7 +1,7 @@
 {
   "name": "terra-application",
   "main": "lib/application-base/ApplicationBase.js",
-  "version": "1.54.0",
+  "version": "1.54.1",
   "description": "A framework to support application development with Terra components",
   "engines": {
     "node": "^8.9.2 || ^10.13.0 || ^12.0.0 || ^14.0.0"