diff --git a/docs/source/releasenotes/index.rst b/docs/source/releasenotes/index.rst
index 9164fa594..d649b1403 100644
--- a/docs/source/releasenotes/index.rst
+++ b/docs/source/releasenotes/index.rst
@@ -10,6 +10,7 @@ bugs fixed, and known issues for each successive release.
 .. toctree::
     :maxdepth: 1
 
+    notes_0.5.4
     notes_0.5.3
     notes_0.5.2
     notes_0.5.1
diff --git a/docs/source/releasenotes/notes_0.5.4.rst b/docs/source/releasenotes/notes_0.5.4.rst
new file mode 100644
index 000000000..1471e1c8e
--- /dev/null
+++ b/docs/source/releasenotes/notes_0.5.4.rst
@@ -0,0 +1,61 @@
+.. _notes_0.5.4:
+
+==============================
+Release Notes for OpenMC 0.5.4
+==============================
+
+.. note::
+    These release notes are for an upcoming release of OpenMC and are still
+    subject to change.
+
+-------------------
+System Requirements
+-------------------
+
+There are no special requirements for running the OpenMC code. As of this
+release, OpenMC has been tested on a variety of Linux distributions, Mac OS X,
+and Microsoft Windows 7. Memory requirements will vary depending on the size of
+the problem at hand (mostly on the number of nuclides in the problem).
+
+------------
+New Features
+------------
+
+- New XML parsing backend (FoX)
+- Ability to write particle track files
+- Handle lost particles more gracefully (via particle track files)
+- Source sites outside geometry are resampled
+- Multiple random number generator streams
+- plot_mesh_tally.py utility converted to use Tkinter rather than PyQt
+- Script added to download ACE data from NNDC
+- Mixed ASCII/binary cross_sections.xml now allowed
+
+---------
+Bug Fixes
+---------
+
+- 32c03c_: Check for valid data in cross_sections.xml
+- c71ef5_: Fix bug in statepoint.py
+- 8884fb_: Check for all ZAIDs for S(a,b) tables
+- b38af0_: Fix XML reading on multiple levels of input
+- d28750_: Fix bug in convert_xsdir.py
+
+.. _32c03c: https://github.com/mit-crpg/openmc/commit/32c03c
+.. _c71ef5: https://github.com/mit-crpg/openmc/commit/c71ef5
+.. _8884fb: https://github.com/mit-crpg/openmc/commit/8884fb
+.. _b38af0: https://github.com/mit-crpg/openmc/commit/b38af0
+.. _d28750: https://github.com/mit-crpg/openmc/commit/d28750
+
+------------
+Contributors
+------------
+
+This release contains new contributions from the following people:
+
+- `Sterling Harper <smharper@mit.edu>`_
+- `Bryan Herman <bherman@mit.edu>`_
+- `Nick Horelik <nhorelik@mit.edu>`_
+- `Adam Nelson <nelsonag@umich.edu>`_
+- `Paul Romano <paul.k.romano@gmail.com>`_
+- `Tuomas Viitanen <tuomas.viitanen@vtt.fi>`_
+- `Jon Walsh <walshjon@mit.edu>`_