diff --git a/.changeset/tidy-bats-warn.md b/.changeset/tidy-bats-warn.md
new file mode 100644
index 00000000000..fc748c57f56
--- /dev/null
+++ b/.changeset/tidy-bats-warn.md
@@ -0,0 +1,5 @@
+---
+'@primer/react': patch
+---
+
+Popover: Add note on deprecation of `caret` in v38
diff --git a/packages/react/src/Popover/Popover.tsx b/packages/react/src/Popover/Popover.tsx
index 8ff7cdaa075..711391b338d 100644
--- a/packages/react/src/Popover/Popover.tsx
+++ b/packages/react/src/Popover/Popover.tsx
@@ -20,6 +20,9 @@ type CaretPosition =
   | 'right-top'
 
 type StyledPopoverProps = {
+  /**
+   * @deprecated `caret` is deprecated and will be removed in v38.
+   */
   caret?: CaretPosition
   relative?: boolean
   open?: boolean