diff --git a/README.md b/README.md
index 56778877724..159da373eff 100644
--- a/README.md
+++ b/README.md
@@ -12,7 +12,7 @@ To get up and running within the WooCommerce Monorepo, you will need to make sur
 
 -   [NVM](https://github.com/nvm-sh/nvm#installing-and-updating): While you can always install Node through other means, we recommend using NVM to ensure you're aligned with the version used by our development teams. Our repository contains [an `.nvmrc` file](.nvmrc) which helps ensure you are using the correct version of Node.
 -   [PNPM](https://pnpm.io/installation): Our repository utilizes PNPM to manage project dependencies and run various scripts involved in building and testing projects.
--   [PHP 7.2+](https://www.php.net/manual/en/install.php): WooCommerce Core currently features a minimum PHP version of 7.2. It is also needed to run Composer and various project build scripts. See [troubleshooting](DEVELOPMENT.md#troubleshooting) for troubleshooting problems installing PHP.
+-   [PHP 7.3+](https://www.php.net/manual/en/install.php): WooCommerce Core currently features a minimum PHP version of 7.3. It is also needed to run Composer and various project build scripts. See [troubleshooting](DEVELOPMENT.md#troubleshooting) for troubleshooting problems installing PHP.
 -   [Composer](https://getcomposer.org/doc/00-intro.md): We use Composer to manage all of the dependencies for PHP packages and plugins.
 
 Once you've installed all of the prerequisites, you can run the following commands to get everything working.