diff --git a/include/prism/options.h b/include/prism/options.h
index 2f64701b0c..092fda4f07 100644
--- a/include/prism/options.h
+++ b/include/prism/options.h
@@ -82,14 +82,20 @@ typedef void (*pm_options_shebang_callback_t)(struct pm_options *options, const
  * parse in the same way as a specific version of CRuby would have.
  */
 typedef enum {
-    /** The current version of prism. */
-    PM_OPTIONS_VERSION_LATEST = 0,
+    /** If an explicit version is not provided, the current version of prism will be used. */
+    PM_OPTIONS_VERSION_UNSET = 0,
 
     /** The vendored version of prism in CRuby 3.3.x. */
     PM_OPTIONS_VERSION_CRUBY_3_3 = 1,
 
     /** The vendored version of prism in CRuby 3.4.x. */
-    PM_OPTIONS_VERSION_CRUBY_3_4 = 2
+    PM_OPTIONS_VERSION_CRUBY_3_4 = 2,
+
+    /** The vendored version of prism in CRuby 3.5.x. */
+    PM_OPTIONS_VERSION_CRUBY_3_5 = 3,
+
+    /** The current version of prism. */
+    PM_OPTIONS_VERSION_LATEST = PM_OPTIONS_VERSION_CRUBY_3_5
 } pm_options_version_t;
 
 /**
diff --git a/java/org/prism/ParsingOptions.java b/java/org/prism/ParsingOptions.java
index d4652f069a..4aff7dbe35 100644
--- a/java/org/prism/ParsingOptions.java
+++ b/java/org/prism/ParsingOptions.java
@@ -12,9 +12,10 @@ public abstract class ParsingOptions {
      * See pm_options_version_t in include/prism/options.h.
      */
     public enum SyntaxVersion {
-        LATEST(0),
+        LATEST(0), // Handled in pm_parser_init
         V3_3(1),
-        V3_4(2);
+        V3_4(2),
+        V3_5(3);
 
         private final int value;
 
diff --git a/javascript/src/parsePrism.js b/javascript/src/parsePrism.js
index 535e6e9a0f..d021c63a9b 100644
--- a/javascript/src/parsePrism.js
+++ b/javascript/src/parsePrism.js
@@ -140,12 +140,14 @@ function dumpOptions(options) {
   values.push(dumpCommandLineOptions(options));
 
   template.push("C");
-  if (!options.version || options.version === "latest" || options.version.match(/^3\.5(\.\d+)?$/)) {
-    values.push(0);
+  if (!options.version || options.version === "latest") {
+    values.push(0); // Handled in pm_parser_init
   } else if (options.version.match(/^3\.3(\.\d+)?$/)) {
     values.push(1);
   } else if (options.version.match(/^3\.4(\.\d+)?$/)) {
     values.push(2);
+  } else if (options.version.match(/^3\.5(\.\d+)?$/)) {
+    values.push(3);
   } else {
     throw new Error(`Unsupported version '${options.version}' in compiler options`);
   }
diff --git a/lib/prism/ffi.rb b/lib/prism/ffi.rb
index 5a4ba09a4f..1e1bf8b1c8 100644
--- a/lib/prism/ffi.rb
+++ b/lib/prism/ffi.rb
@@ -422,13 +422,13 @@ def dump_options_command_line(options)
     def dump_options_version(version)
       case version
       when nil, "latest"
-        0
+        0 # Handled in pm_parser_init
       when /\A3\.3(\.\d+)?\z/
         1
       when /\A3\.4(\.\d+)?\z/
         2
       when /\A3\.5(\.\d+)?\z/
-        0
+        3
       else
         raise ArgumentError, "invalid version: #{version}"
       end
diff --git a/src/options.c b/src/options.c
index a457178ce8..1b5c022cf5 100644
--- a/src/options.c
+++ b/src/options.c
@@ -89,7 +89,7 @@ pm_options_version_set(pm_options_t *options, const char *version, size_t length
         }
 
         if (strncmp(version, "3.5", 3) == 0) {
-            options->version = PM_OPTIONS_VERSION_LATEST;
+            options->version = PM_OPTIONS_VERSION_CRUBY_3_5;
             return true;
         }
 
@@ -108,7 +108,7 @@ pm_options_version_set(pm_options_t *options, const char *version, size_t length
         }
 
         if (strncmp(version, "3.5.", 4) == 0 && is_number(version + 4, length - 4)) {
-            options->version = PM_OPTIONS_VERSION_LATEST;
+            options->version = PM_OPTIONS_VERSION_CRUBY_3_5;
             return true;
         }
     }
diff --git a/src/prism.c b/src/prism.c
index 8707330c95..e071199590 100644
--- a/src/prism.c
+++ b/src/prism.c
@@ -1409,7 +1409,7 @@ pm_conditional_predicate_warn_write_literal_p(const pm_node_t *node) {
 static inline void
 pm_conditional_predicate_warn_write_literal(pm_parser_t *parser, const pm_node_t *node) {
     if (pm_conditional_predicate_warn_write_literal_p(node)) {
-        pm_parser_warn_node(parser, node, parser->version == PM_OPTIONS_VERSION_CRUBY_3_3 ? PM_WARN_EQUAL_IN_CONDITIONAL_3_3 : PM_WARN_EQUAL_IN_CONDITIONAL);
+        pm_parser_warn_node(parser, node, parser->version <= PM_OPTIONS_VERSION_CRUBY_3_3 ? PM_WARN_EQUAL_IN_CONDITIONAL_3_3 : PM_WARN_EQUAL_IN_CONDITIONAL);
     }
 }
 
@@ -2976,7 +2976,7 @@ pm_call_and_write_node_create(pm_parser_t *parser, pm_call_node_t *target, const
  */
 static void
 pm_index_arguments_check(pm_parser_t *parser, const pm_arguments_node_t *arguments, const pm_node_t *block) {
-    if (parser->version != PM_OPTIONS_VERSION_CRUBY_3_3) {
+    if (parser->version >= PM_OPTIONS_VERSION_CRUBY_3_4) {
         if (arguments != NULL && PM_NODE_FLAG_P(arguments, PM_ARGUMENTS_NODE_FLAGS_CONTAINS_KEYWORDS)) {
             pm_node_t *node;
             PM_NODE_LIST_FOREACH(&arguments->arguments, index, node) {
@@ -9094,7 +9094,7 @@ lex_global_variable(pm_parser_t *parser) {
                 } while ((width = char_is_identifier(parser, parser->current.end, parser->end - parser->current.end)) > 0);
 
                 // $0 isn't allowed to be followed by anything.
-                pm_diagnostic_id_t diag_id = parser->version == PM_OPTIONS_VERSION_CRUBY_3_3 ? PM_ERR_INVALID_VARIABLE_GLOBAL_3_3 : PM_ERR_INVALID_VARIABLE_GLOBAL;
+                pm_diagnostic_id_t diag_id = parser->version <= PM_OPTIONS_VERSION_CRUBY_3_3 ? PM_ERR_INVALID_VARIABLE_GLOBAL_3_3 : PM_ERR_INVALID_VARIABLE_GLOBAL;
                 PM_PARSER_ERR_TOKEN_FORMAT_CONTENT(parser, parser->current, diag_id);
             }
 
@@ -9131,7 +9131,7 @@ lex_global_variable(pm_parser_t *parser) {
             } else {
                 // If we get here, then we have a $ followed by something that
                 // isn't recognized as a global variable.
-                pm_diagnostic_id_t diag_id = parser->version == PM_OPTIONS_VERSION_CRUBY_3_3 ? PM_ERR_INVALID_VARIABLE_GLOBAL_3_3 : PM_ERR_INVALID_VARIABLE_GLOBAL;
+                pm_diagnostic_id_t diag_id = parser->version <= PM_OPTIONS_VERSION_CRUBY_3_3 ? PM_ERR_INVALID_VARIABLE_GLOBAL_3_3 : PM_ERR_INVALID_VARIABLE_GLOBAL;
                 const uint8_t *end = parser->current.end + parser->encoding->char_width(parser->current.end, parser->end - parser->current.end);
                 PM_PARSER_ERR_FORMAT(parser, parser->current.start, end, diag_id, (int) (end - parser->current.start), (const char *) parser->current.start);
             }
@@ -10158,7 +10158,7 @@ lex_at_variable(pm_parser_t *parser) {
         }
     } else if (parser->current.end < end && pm_char_is_decimal_digit(*parser->current.end)) {
         pm_diagnostic_id_t diag_id = (type == PM_TOKEN_CLASS_VARIABLE) ? PM_ERR_INCOMPLETE_VARIABLE_CLASS : PM_ERR_INCOMPLETE_VARIABLE_INSTANCE;
-        if (parser->version == PM_OPTIONS_VERSION_CRUBY_3_3) {
+        if (parser->version <= PM_OPTIONS_VERSION_CRUBY_3_3) {
             diag_id = (type == PM_TOKEN_CLASS_VARIABLE) ? PM_ERR_INCOMPLETE_VARIABLE_CLASS_3_3 : PM_ERR_INCOMPLETE_VARIABLE_INSTANCE_3_3;
         }
 
@@ -14648,7 +14648,7 @@ parse_parameters(
                     parser_lex(parser);
 
                     pm_constant_id_t name_id = pm_parser_constant_id_token(parser, &name);
-                    uint32_t reads = parser->version == PM_OPTIONS_VERSION_CRUBY_3_3 ? pm_locals_reads(&parser->current_scope->locals, name_id) : 0;
+                    uint32_t reads = parser->version <= PM_OPTIONS_VERSION_CRUBY_3_3 ? pm_locals_reads(&parser->current_scope->locals, name_id) : 0;
 
                     if (accepts_blocks_in_defaults) pm_accepts_block_stack_push(parser, true);
                     pm_node_t *value = parse_value_expression(parser, binding_power, false, false, PM_ERR_PARAMETER_NO_DEFAULT, (uint16_t) (depth + 1));
@@ -14664,7 +14664,7 @@ parse_parameters(
                     // If the value of the parameter increased the number of
                     // reads of that parameter, then we need to warn that we
                     // have a circular definition.
-                    if ((parser->version == PM_OPTIONS_VERSION_CRUBY_3_3) && (pm_locals_reads(&parser->current_scope->locals, name_id) != reads)) {
+                    if ((parser->version <= PM_OPTIONS_VERSION_CRUBY_3_3) && (pm_locals_reads(&parser->current_scope->locals, name_id) != reads)) {
                         PM_PARSER_ERR_TOKEN_FORMAT_CONTENT(parser, name, PM_ERR_PARAMETER_CIRCULAR);
                     }
 
@@ -14749,13 +14749,13 @@ parse_parameters(
 
                         if (token_begins_expression_p(parser->current.type)) {
                             pm_constant_id_t name_id = pm_parser_constant_id_token(parser, &local);
-                            uint32_t reads = parser->version == PM_OPTIONS_VERSION_CRUBY_3_3 ? pm_locals_reads(&parser->current_scope->locals, name_id) : 0;
+                            uint32_t reads = parser->version <= PM_OPTIONS_VERSION_CRUBY_3_3 ? pm_locals_reads(&parser->current_scope->locals, name_id) : 0;
 
                             if (accepts_blocks_in_defaults) pm_accepts_block_stack_push(parser, true);
                             pm_node_t *value = parse_value_expression(parser, binding_power, false, false, PM_ERR_PARAMETER_NO_DEFAULT_KW, (uint16_t) (depth + 1));
                             if (accepts_blocks_in_defaults) pm_accepts_block_stack_pop(parser);
 
-                            if (parser->version == PM_OPTIONS_VERSION_CRUBY_3_3 && (pm_locals_reads(&parser->current_scope->locals, name_id) != reads)) {
+                            if (parser->version <= PM_OPTIONS_VERSION_CRUBY_3_3 && (pm_locals_reads(&parser->current_scope->locals, name_id) != reads)) {
                                 PM_PARSER_ERR_TOKEN_FORMAT_CONTENT(parser, local, PM_ERR_PARAMETER_CIRCULAR);
                             }
 
@@ -16459,7 +16459,7 @@ parse_variable(pm_parser_t *parser) {
             pm_node_list_append(&current_scope->implicit_parameters, node);
 
             return node;
-        } else if ((parser->version != PM_OPTIONS_VERSION_CRUBY_3_3) && pm_token_is_it(parser->previous.start, parser->previous.end)) {
+        } else if ((parser->version >= PM_OPTIONS_VERSION_CRUBY_3_4) && pm_token_is_it(parser->previous.start, parser->previous.end)) {
             pm_node_t *node = (pm_node_t *) pm_it_local_variable_read_node_create(parser, &parser->previous);
             pm_node_list_append(&current_scope->implicit_parameters, node);
 
@@ -22628,6 +22628,12 @@ pm_parser_init(pm_parser_t *parser, const uint8_t *source, size_t size, const pm
         }
     }
 
+    // Now that we have established the user-provided options, check if
+    // a version was given and parse as the latest version otherwise.
+    if (parser->version == PM_OPTIONS_VERSION_UNSET) {
+        parser->version = PM_OPTIONS_VERSION_LATEST;
+    }
+
     pm_accepts_block_stack_push(parser, true);
 
     // Skip past the UTF-8 BOM if it exists.