diff --git a/pnpm-workspace.yaml b/pnpm-workspace.yaml
index 57851b0fece..c5eda4fbc84 100644
--- a/pnpm-workspace.yaml
+++ b/pnpm-workspace.yaml
@@ -8,6 +8,5 @@ packages:
     - 'tools/package-release'
     - 'tools/cherry-pick'
     - 'tools/release-posts'
-    - 'tools/version-bump'
     - 'tools/storybook'
     - 'tools/monorepo-utils'
diff --git a/tools/version-bump/.eslintrc b/tools/version-bump/.eslintrc
deleted file mode 100644
index b2a08066eea..00000000000
--- a/tools/version-bump/.eslintrc
+++ /dev/null
@@ -1,3 +0,0 @@
-{
-	"extends": [ "plugin:@woocommerce/eslint-plugin/recommended" ]
-}
diff --git a/tools/version-bump/README.md b/tools/version-bump/README.md
deleted file mode 100644
index 3bb50735fd3..00000000000
--- a/tools/version-bump/README.md
+++ /dev/null
@@ -1,26 +0,0 @@
-# Version Bump
-
-## Description
-
-`version-bump` is a CLI tool to bump versions in plugins found in the Monorepo.
-
-## Usage
-
-Bump WooCommerce to version 7.1.0:
-
-```
-pnpm --filter version-bump run version bump woocommerce -v 7.1.0
-```
-
-**Arguments**:
-plugin - Monorepo plugin
-
-**Options**:
--v, --version <string> Version to bump to
--h, --help display help for command
-
-### Prereleases
-
-Prerelease versions such as `7.3.0-dev` and `7.5.0-beta.1` are acceptable.
-
-When updating with a `-dev` prerelease suffix, the tool will not update the stable tag but will update the readme changelog to prepare for the next release cycle.
diff --git a/tools/version-bump/commands/bump.ts b/tools/version-bump/commands/bump.ts
deleted file mode 100644
index 4792b9e6254..00000000000
--- a/tools/version-bump/commands/bump.ts
+++ /dev/null
@@ -1,54 +0,0 @@
-/**
- * External dependencies
- */
-import { prerelease } from 'semver';
-import { Logger } from '@woocommerce/monorepo-utils/src/core/logger';
-
-/**
- * Internal dependencies
- */
-import { program } from '../program';
-import { validateArgs, stripPrereleaseParameters } from '../lib/validate';
-import {
-	updatePluginFile,
-	updateReadmeChangelog,
-	updateJSON,
-	updateClassPluginFile,
-	updateReadmeStableTag,
-} from '../lib/update';
-
-program
-	.command( 'bump' )
-	.description( 'CLI to automate version bumping.' )
-	.argument( '<plugin>', 'Monorepo plugin' )
-	.requiredOption( '-v, --version <string>', 'Version to bump to' )
-	.action( async ( plugin: string, options ) => {
-		Logger.startTask( `Bumping versions to ${ options.version }` );
-
-		await validateArgs( plugin, options );
-
-		let nextVersion = options.version;
-
-		const prereleaseParameters = prerelease( nextVersion );
-		const isDevVersionBump =
-			prereleaseParameters && prereleaseParameters[ 0 ] === 'dev';
-
-		await updatePluginFile( plugin, nextVersion );
-
-		// Any updated files besides the plugin file get a version stripped of prerelease parameters.
-		nextVersion = stripPrereleaseParameters( nextVersion );
-
-		if ( isDevVersionBump ) {
-			// Bumping the dev version means updating the readme's changelog.
-			await updateReadmeChangelog( plugin, nextVersion );
-		} else {
-			// Only update stable tag on real releases.
-			await updateReadmeStableTag( plugin, nextVersion );
-		}
-
-		await updateJSON( 'composer', plugin, nextVersion );
-		await updateJSON( 'package', plugin, nextVersion );
-		await updateClassPluginFile( plugin, nextVersion );
-
-		Logger.endTask();
-	} );
diff --git a/tools/version-bump/index.ts b/tools/version-bump/index.ts
deleted file mode 100644
index d7d76db112d..00000000000
--- a/tools/version-bump/index.ts
+++ /dev/null
@@ -1,8 +0,0 @@
-/**
- * Internal dependencies
- */
-import { program } from './program';
-import './commands/bump';
-
-// Start the program
-program.parse();
diff --git a/tools/version-bump/lib/const.ts b/tools/version-bump/lib/const.ts
deleted file mode 100644
index 7b6fbef42ad..00000000000
--- a/tools/version-bump/lib/const.ts
+++ /dev/null
@@ -1,7 +0,0 @@
-/**
- * External dependencies
- */
-import { dirname } from 'path';
-
-// Escape from ./tools/package-release/src
-export const MONOREPO_ROOT = dirname( dirname( dirname( __dirname ) ) );
diff --git a/tools/version-bump/lib/update.ts b/tools/version-bump/lib/update.ts
deleted file mode 100644
index f10555dacdd..00000000000
--- a/tools/version-bump/lib/update.ts
+++ /dev/null
@@ -1,152 +0,0 @@
-/**
- * External dependencies
- */
-import { readFile, writeFile, stat } from 'fs/promises';
-import { join } from 'path';
-import { Logger } from '@woocommerce/monorepo-utils/src/core/logger';
-
-/**
- * Internal dependencies
- */
-import { MONOREPO_ROOT } from './const';
-
-/**
- * Update plugin readme stable tag.
- *
- * @param  plugin      plugin to update
- * @param  nextVersion version to bump to
- */
-export const updateReadmeStableTag = async (
-	plugin: string,
-	nextVersion: string
-): Promise< void > => {
-	const filePath = join( MONOREPO_ROOT, `plugins/${ plugin }/readme.txt` );
-	try {
-		const readmeContents = await readFile( filePath, 'utf8' );
-
-		const updatedReadmeContents = readmeContents.replace(
-			/Stable tag: \d+\.\d+\.\d+\n/m,
-			`Stable tag: ${ nextVersion }\n`
-		);
-
-		await writeFile( filePath, updatedReadmeContents );
-	} catch ( e ) {
-		Logger.error( 'Unable to update readme stable tag' );
-	}
-};
-
-/**
- * Update plugin readme changelog.
- *
- * @param  plugin      plugin to update
- * @param  nextVersion version to bump to
- */
-export const updateReadmeChangelog = async (
-	plugin: string,
-	nextVersion: string
-): Promise< void > => {
-	const filePath = join( MONOREPO_ROOT, `plugins/${ plugin }/readme.txt` );
-	try {
-		const readmeContents = await readFile( filePath, 'utf8' );
-
-		const updatedReadmeContents = readmeContents.replace(
-			/= \d+\.\d+\.\d+ \d\d\d\d-XX-XX =\n/m,
-			`= ${ nextVersion } ${ new Date().getFullYear() }-XX-XX =\n`
-		);
-
-		await writeFile( filePath, updatedReadmeContents );
-	} catch ( e ) {
-		Logger.error( 'Unable to update readme changelog' );
-	}
-};
-
-/**
- * Update plugin class file.
- *
- * @param  plugin      plugin to update
- * @param  nextVersion version to bump to
- */
-export const updateClassPluginFile = async (
-	plugin: string,
-	nextVersion: string
-): Promise< void > => {
-	const filePath = join(
-		MONOREPO_ROOT,
-		`plugins/${ plugin }/includes/class-${ plugin }.php`
-	);
-
-	try {
-		await stat( filePath );
-	} catch ( e ) {
-		// Class file does not exist, return early.
-		return;
-	}
-
-	try {
-		const classPluginFileContents = await readFile( filePath, 'utf8' );
-
-		const updatedClassPluginFileContents = classPluginFileContents.replace(
-			/public \$version = '\d+\.\d+\.\d+';\n/m,
-			`public $version = '${ nextVersion }';\n`
-		);
-
-		await writeFile( filePath, updatedClassPluginFileContents );
-	} catch ( e ) {
-		Logger.error( 'Unable to update plugin file.' );
-	}
-};
-
-/**
- * Update plugin JSON files.
- *
- * @param {string} type        plugin to update
- * @param {string} plugin      plugin to update
- * @param {string} nextVersion version to bump to
- */
-export const updateJSON = async (
-	type: 'package' | 'composer',
-	plugin: string,
-	nextVersion: string
-): Promise< void > => {
-	const filePath = join(
-		MONOREPO_ROOT,
-		`plugins/${ plugin }/${ type }.json`
-	);
-	try {
-		const composerJson = JSON.parse( await readFile( filePath, 'utf8' ) );
-		composerJson.version = nextVersion;
-		await writeFile(
-			filePath,
-			JSON.stringify( composerJson, null, '\t' ) + '\n'
-		);
-	} catch ( e ) {
-		Logger.error( 'Unable to update composer.json' );
-	}
-};
-
-/**
- * Update plugin main file.
- *
- * @param  plugin      plugin to update
- * @param  nextVersion version to bump to
- */
-export const updatePluginFile = async (
-	plugin: string,
-	nextVersion: string
-): Promise< void > => {
-	const filePath = join(
-		MONOREPO_ROOT,
-		`plugins/${ plugin }/${ plugin }.php`
-	);
-	try {
-		const pluginFileContents = await readFile( filePath, 'utf8' );
-
-		const updatedPluginFileContents = pluginFileContents.replace(
-			/Version: \d+\.\d+\.\d+.*\n/m,
-			`Version: ${ nextVersion }\n`
-		);
-		await writeFile( filePath, updatedPluginFileContents );
-	} catch ( e ) {
-		Logger.error( 'Unable to update plugin file.' );
-	}
-};
diff --git a/tools/version-bump/lib/validate.ts b/tools/version-bump/lib/validate.ts
deleted file mode 100644
index ae6ed7353f8..00000000000
--- a/tools/version-bump/lib/validate.ts
+++ /dev/null
@@ -1,76 +0,0 @@
-/**
- * External dependencies
- */
-import { valid, lt as versionLessThan, parse } from 'semver';
-import { join } from 'path';
-import { readFile } from 'fs/promises';
-import { Logger } from '@woocommerce/monorepo-utils/src/core/logger';
-
-/**
- * Internal dependencies
- */
-import { MONOREPO_ROOT } from './const';
-
-/**
- * Get a plugin's current version.
- *
- * @param  plugin plugin to update.
- */
-export const getCurrentVersion = async (
-	plugin: string
-): Promise< string | void > => {
-	const filePath = join( MONOREPO_ROOT, `plugins/${ plugin }/composer.json` );
-	try {
-		const composerJSON = JSON.parse( await readFile( filePath, 'utf8' ) );
-		return composerJSON.version;
-	} catch ( e ) {
-		Logger.error( 'Unable to read current version.' );
-	}
-};
-
-/**
- * When given a prerelease version, return just the version.
- *
- * @param {string} prereleaseVersion version with prerelease params
- * @return {string} version
- */
-export const stripPrereleaseParameters = (
-	prereleaseVersion: string
-): string => {
-	const parsedVersion = parse( prereleaseVersion );
-	if ( parsedVersion ) {
-		const { major, minor, patch } = parsedVersion;
-		return `${ major }.${ minor }.${ patch }`;
-	}
-	return prereleaseVersion;
-};
-
-/**
- * Validate inputs.
- *
- * @param  plugin          plugin
- * @param  options         options
- * @param  options.version version
- */
-export const validateArgs = async (
-	plugin: string,
-	options: { version: string }
-): Promise< void > => {
-	const nextVersion = options.version;
-
-	if ( ! valid( nextVersion ) ) {
-		Logger.error(
-			'Invalid version supplied, please pass in a semantically correct version.'
-		);
-	}
-
-	const currentVersion = await getCurrentVersion( plugin );
-
-	if ( ! currentVersion ) {
-		Logger.error( 'Unable to determine current version' );
-	} else if ( versionLessThan( nextVersion, currentVersion ) ) {
-		Logger.error(
-			'The version supplied is less than the current version, please supply a valid version.'
-		);
-	}
-};
diff --git a/tools/version-bump/package.json b/tools/version-bump/package.json
deleted file mode 100644
index da9789252a2..00000000000
--- a/tools/version-bump/package.json
+++ /dev/null
@@ -1,31 +0,0 @@
-{
-	"name": "version-bump",
-	"version": "0.1.0",
-	"description": "Automate version bumping for WooCommerce plugins",
-	"main": " ",
-	"author": "",
-	"license": "GPL-2.0-or-later",
-	"engines": {
-		"node": "^16.14.1",
-		"pnpm": "^8.3.1"
-	},
-	"devDependencies": {
-		"@tsconfig/node16": "^1.0.3",
-		"@types/express": "^4.17.13",
-		"typescript": "^4.9.5"
-	},
-	"dependencies": {
-		"@commander-js/extra-typings": "^0.1.0",
-		"@woocommerce/monorepo-utils": "workspace:*",
-		"chalk": "^4.1.2",
-		"commander": "9.4.0",
-		"express": "^4.18.1",
-		"ora": "^5.4.1",
-		"semver": "^7.3.2",
-		"ts-node": "^10.9.1"
-	},
-	"scripts": {
-		"lint": "eslint . --ext .ts --config .eslintrc",
-		"version": "node -r ts-node/register ./index.ts"
-	}
-}
diff --git a/tools/version-bump/program.ts b/tools/version-bump/program.ts
deleted file mode 100644
index f593816b288..00000000000
--- a/tools/version-bump/program.ts
+++ /dev/null
@@ -1,10 +0,0 @@
-/**
- * External dependencies
- */
-import { Command } from '@commander-js/extra-typings';
-
-export const program = new Command();
-
-program
-	.name( 'version-bump' )
-	.description( 'CLI to automate version bumping for WooCommerce plugins.' );
diff --git a/tools/version-bump/tsconfig.json b/tools/version-bump/tsconfig.json
deleted file mode 100644
index ec4177ddeb8..00000000000
--- a/tools/version-bump/tsconfig.json
+++ /dev/null
@@ -1,7 +0,0 @@
-{
-	"extends": "@tsconfig/node16/tsconfig.json",
-	"ts-node": {
-		"transpileOnly": true,
-		"files": true
-	}
-}