diff --git a/package.json b/package.json
index bbd2fd723b2..90355fc8eac 100644
--- a/package.json
+++ b/package.json
@@ -2,7 +2,7 @@
     "name": "typescript",
     "author": "Microsoft Corp.",
     "homepage": "https://www.typescriptlang.org/",
-    "version": "3.7.0-beta",
+    "version": "3.7.1-rc",
     "license": "Apache-2.0",
     "description": "TypeScript is a language for application scale JavaScript development",
     "keywords": [
diff --git a/src/compiler/core.ts b/src/compiler/core.ts
index 40a3012bbf2..fcd00ef10ce 100644
--- a/src/compiler/core.ts
+++ b/src/compiler/core.ts
@@ -3,7 +3,7 @@ namespace ts {
     // If changing the text in this section, be sure to test `configureNightly` too.
     export const versionMajorMinor = "3.7";
     /** The version of the TypeScript compiler release */
-    export const version = `${versionMajorMinor}.0-beta`;
+    export const version = `${versionMajorMinor}.1-rc`;
 }
 
 namespace ts {