diff --git a/Doxygen b/Doxygen
index 999594488..8fc8b02ce 100644
--- a/Doxygen
+++ b/Doxygen
@@ -38,7 +38,7 @@ PROJECT_NAME           = "ESPHome"
 # could be handy for archiving the generated documentation or if some version
 # control system is used.
 
-PROJECT_NUMBER         = 2024.5.3
+PROJECT_NUMBER         = 2024.5.4
 
 # Using the PROJECT_BRIEF tag one can provide an optional one line description
 # for a project that appears at the top of each page and should give viewer a
diff --git a/Makefile b/Makefile
index 6e19d14a9..716a43335 100644
--- a/Makefile
+++ b/Makefile
@@ -1,5 +1,5 @@
 ESPHOME_PATH = ../esphome
-ESPHOME_REF = 2024.5.3
+ESPHOME_REF = 2024.5.4
 PAGEFIND_VERSION=1.1.0
 PAGEFIND=pagefind
 NET_PAGEFIND=../pagefindbin/pagefind
diff --git a/_static/version b/_static/version
index 6127ce752..78ed49716 100644
--- a/_static/version
+++ b/_static/version
@@ -1 +1 @@
-2024.5.3
\ No newline at end of file
+2024.5.4
\ No newline at end of file
diff --git a/changelog/2024.5.0.rst b/changelog/2024.5.0.rst
index 7024a949e..d64ac33db 100644
--- a/changelog/2024.5.0.rst
+++ b/changelog/2024.5.0.rst
@@ -71,6 +71,13 @@ Release 2024.5.3 - May 25
 - [voice_assistant] Don't allocate buffers until starting the microphone for the first time :esphomepr:`6800` by :ghuser:`jesserockz`
 
 
+Release 2024.5.4 - May 28
+-------------------------
+
+- [web_server_base] Bump ESPAsyncWebServer-esphome to 3.2.2 :esphomepr:`6797` by :ghuser:`jesserockz`
+- [helpers] Move Base64 string to cpp :esphomepr:`6819` by :ghuser:`gabest11`
+
+
 Full list of changes
 --------------------
 
diff --git a/conf.py b/conf.py
index 73138df30..222ec9a44 100644
--- a/conf.py
+++ b/conf.py
@@ -69,7 +69,7 @@ author = "ESPHome"
 # The short X.Y version.
 version = "2024.5"
 # The full version, including alpha/beta/rc tags.
-release = "2024.5.3"
+release = "2024.5.4"
 
 # The language for content autogenerated by Sphinx. Refer to documentation
 # for a list of supported languages.
diff --git a/guides/supporters.rst b/guides/supporters.rst
index 2d9c23b1d..7e46bb297 100644
--- a/guides/supporters.rst
+++ b/guides/supporters.rst
@@ -136,6 +136,7 @@ Contributors
 - `Mike Dunston (@atanisoft) <https://github.com/atanisoft>`__
 - `Glenn Morrison (@atomicpapa) <https://github.com/atomicpapa>`__
 - `Alexander Turlov (@aturlov) <https://github.com/aturlov>`__
+- `august huber (@augs) <https://github.com/augs>`__
 - `aus (@aus) <https://github.com/aus>`__
 - `AustinMorris (@AustinMorris) <https://github.com/AustinMorris>`__
 - `Avirsaam (@Avirsaam) <https://github.com/Avirsaam>`__
@@ -1192,6 +1193,7 @@ Contributors
 - `Stefan Staub (@sstaub) <https://github.com/sstaub>`__
 - `Stanislav Habich (@standahabich) <https://github.com/standahabich>`__
 - `stegm (@stegm) <https://github.com/stegm>`__
+- `Steven Hack (@steven-hack) <https://github.com/steven-hack>`__
 - `Stewart (@stewiem2000) <https://github.com/stewiem2000>`__
 - `sthorley (@sthorley) <https://github.com/sthorley>`__
 - `sticilface (@sticilface) <https://github.com/sticilface>`__
@@ -1242,6 +1244,7 @@ Contributors
 - `Alan Lord (@theopensourcerer) <https://github.com/theopensourcerer>`__
 - `Brian Levinsen (@therealeldaria) <https://github.com/therealeldaria>`__
 - `Steve Scott (@thewishy) <https://github.com/thewishy>`__
+- `Zachery Notz (@TheZackCodec) <https://github.com/TheZackCodec>`__
 - `Florian Gareis (@TheZoker) <https://github.com/TheZoker>`__
 - `Thibault Maekelbergh (@thibmaek) <https://github.com/thibmaek>`__
 - `Thies Gerken (@thiesgerken) <https://github.com/thiesgerken>`__
@@ -1371,4 +1374,4 @@ Contributors
 - `Christian Zufferey (@zuzu59) <https://github.com/zuzu59>`__
 - `Zynth-dev (@Zynth-dev) <https://github.com/Zynth-dev>`__
 
-*This page was last updated May 25, 2024.*
+*This page was last updated May 28, 2024.*