diff --git a/eng/Version.Details.xml b/eng/Version.Details.xml
index ebe0bd835..8e10ab016 100644
--- a/eng/Version.Details.xml
+++ b/eng/Version.Details.xml
@@ -71,9 +71,9 @@
       <Uri>https://github.com/dotnet/test-templates</Uri>
       <Sha>5117d3d9d7dfd3583f0c42a639efaf092f957b7b</Sha>
     </Dependency>
-    <Dependency Name="Microsoft.DotNet.Common.ItemTemplates" Version="5.0.0-alpha.1.20117.1">
+    <Dependency Name="Microsoft.DotNet.Common.ItemTemplates" Version="5.0.0-preview.2.20118.3">
       <Uri>https://github.com/dotnet/templating</Uri>
-      <Sha>26aafdde253e308c8a470439eeb56167be9bf720</Sha>
+      <Sha>61187d97e49b8ae40ca999c6a350a409a8ba9794</Sha>
     </Dependency>
     <Dependency Name="Microsoft.NET.Sdk" Version="5.0.100-preview.1.20119.1">
       <Uri>https://github.com/dotnet/sdk</Uri>
diff --git a/eng/Versions.props b/eng/Versions.props
index dbce0dd6b..14c8a2b28 100644
--- a/eng/Versions.props
+++ b/eng/Versions.props
@@ -29,7 +29,7 @@
   </PropertyGroup>
   <PropertyGroup>
     <!-- Dependency from https://github.com/dotnet/templating -->
-    <MicrosoftDotNetCommonItemTemplatesPackageVersion>5.0.0-alpha.1.20117.1</MicrosoftDotNetCommonItemTemplatesPackageVersion>
+    <MicrosoftDotNetCommonItemTemplatesPackageVersion>5.0.0-preview.2.20118.3</MicrosoftDotNetCommonItemTemplatesPackageVersion>
   </PropertyGroup>
   <PropertyGroup>
     <!-- Dependency from https://github.com/dotnet/test-templates -->