diff --git a/README.md b/README.md
index 9169d89..6b32d82 100644
--- a/README.md
+++ b/README.md
@@ -44,7 +44,7 @@ steps:
 | `chart-path`       | no       | `${{ github.workspace }}/Chart.yaml` | Path to the Helm chart file.               |
 | `old-tag`          | no       | auto-detected                        | Start tag for changelog generation.        |
 | `new-tag`          | no       | auto-detected                        | End tag for changelog generation.          |
-| `yq-version`       | no       | `v4.44.6`                            | Version of yq to install.                  |
+| `yq-version`       | no       | `v4.53.3`                            | Version of yq to install.                  |
 | `yq-arch`          | no       | auto-detected                        | Architecture of yq binary to download.     |
 | `yq-os`            | no       | auto-detected                        | Operating system of yq binary to download. |
 | `yq-binary-name`   | no       | `yq`                                 | Name of the yq binary to download.         |
@@ -58,7 +58,7 @@ steps:
 
 ## Pre-releases
 
-Tags matching the pattern `-rc` (e.g. `v1.0.0-rc.1`, `v2.0.0-rc`) are treated as pre-releases.
+Tags matching the pattern `-rc` (e.g. `v4.53.3`, `v4.53.3`) are treated as pre-releases.
 When `new-tag` is a pre-release tag, the action:
 
 1. Sets `artifacthub.io/prerelease: "true"` in `Chart.yaml`.
diff --git a/install-yq.sh b/install-yq.sh
index d297c84..12ca93c 100755
--- a/install-yq.sh
+++ b/install-yq.sh
@@ -2,7 +2,7 @@
 
 set -euo pipefail
 
-internal_yq_version=v4.44.6 # renovate: datasource=github-releases depName=mikefarah/yq versioning=semver
+internal_yq_version=v4.53.3 # renovate: datasource=github-releases depName=mikefarah/yq versioning=semver
 
 # Use :- for unset and handle empty strings from composite action inputs
 YQ_BINARY_NAME="${YQ_BINARY_NAME:="yq"}"