diff --git a/CHANGELOG.md b/CHANGELOG.md
index 40164402775..1b6e11ac1f3 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,12 @@
+## [3.4.12](https://github.com/vuejs/core/compare/v3.4.11...v3.4.12) (2024-01-13)
+
+
+### Reverts
+
+* fix(reactivity): correct dirty assign in render function ([#10091](https://github.com/vuejs/core/issues/10091)) ([8b18481](https://github.com/vuejs/core/commit/8b1848173b0bc8fd84ce1da1af8d373c044bf073)), closes [#10098](https://github.com/vuejs/core/issues/10098) [#10100](https://github.com/vuejs/core/issues/10100)
+
+
+
 ## [3.4.11](https://github.com/vuejs/core/compare/v3.4.10...v3.4.11) (2024-01-12)
 
 
diff --git a/package.json b/package.json
index 2b53111b67f..cf80b74c498 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "private": true,
-  "version": "3.4.11",
+  "version": "3.4.12",
   "packageManager": "pnpm@8.14.0",
   "type": "module",
   "scripts": {
diff --git a/packages/compiler-core/package.json b/packages/compiler-core/package.json
index e19b668ed45..0332c648be1 100644
--- a/packages/compiler-core/package.json
+++ b/packages/compiler-core/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-core",
-  "version": "3.4.11",
+  "version": "3.4.12",
   "description": "@vue/compiler-core",
   "main": "index.js",
   "module": "dist/compiler-core.esm-bundler.js",
diff --git a/packages/compiler-dom/package.json b/packages/compiler-dom/package.json
index 8f6f73c3270..3586c6dde96 100644
--- a/packages/compiler-dom/package.json
+++ b/packages/compiler-dom/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-dom",
-  "version": "3.4.11",
+  "version": "3.4.12",
   "description": "@vue/compiler-dom",
   "main": "index.js",
   "module": "dist/compiler-dom.esm-bundler.js",
diff --git a/packages/compiler-sfc/package.json b/packages/compiler-sfc/package.json
index fda596705ca..da556510680 100644
--- a/packages/compiler-sfc/package.json
+++ b/packages/compiler-sfc/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-sfc",
-  "version": "3.4.11",
+  "version": "3.4.12",
   "description": "@vue/compiler-sfc",
   "main": "dist/compiler-sfc.cjs.js",
   "module": "dist/compiler-sfc.esm-browser.js",
diff --git a/packages/compiler-ssr/package.json b/packages/compiler-ssr/package.json
index 8aba1f4f604..0aeed0fa516 100644
--- a/packages/compiler-ssr/package.json
+++ b/packages/compiler-ssr/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-ssr",
-  "version": "3.4.11",
+  "version": "3.4.12",
   "description": "@vue/compiler-ssr",
   "main": "dist/compiler-ssr.cjs.js",
   "types": "dist/compiler-ssr.d.ts",
diff --git a/packages/reactivity/__tests__/effect.spec.ts b/packages/reactivity/__tests__/effect.spec.ts
index 925d9ed6104..9109177bf49 100644
--- a/packages/reactivity/__tests__/effect.spec.ts
+++ b/packages/reactivity/__tests__/effect.spec.ts
@@ -3,19 +3,16 @@ import {
   type ReactiveEffectRunner,
   TrackOpTypes,
   TriggerOpTypes,
-  computed,
   effect,
   markRaw,
   reactive,
   readonly,
-  ref,
   shallowReactive,
   stop,
   toRaw,
 } from '../src/index'
 import { pauseScheduling, resetScheduling } from '../src/effect'
 import { ITERATE_KEY, getDepFromReactive } from '../src/reactiveEffect'
-import { h, nextTick, nodeOps, render, serialize } from '@vue/runtime-test'
 
 describe('reactivity/effect', () => {
   it('should run the passed function once (wrapped by a effect)', () => {
@@ -1014,35 +1011,6 @@ describe('reactivity/effect', () => {
     expect(counterSpy).toHaveBeenCalledTimes(1)
   })
 
-  // #10082
-  it('should set dirtyLevel when effect is allowRecurse and is running', async () => {
-    const s = ref(0)
-    const n = computed(() => s.value + 1)
-
-    const Child = {
-      setup() {
-        s.value++
-        return () => n.value
-      },
-    }
-
-    const renderSpy = vi.fn()
-    const Parent = {
-      setup() {
-        return () => {
-          renderSpy()
-          return [n.value, h(Child)]
-        }
-      },
-    }
-
-    const root = nodeOps.createElement('div')
-    render(h(Parent), root)
-    await nextTick()
-    expect(serialize(root)).toBe('<div>22</div>')
-    expect(renderSpy).toHaveBeenCalledTimes(2)
-  })
-
   describe('empty dep cleanup', () => {
     it('should remove the dep when the effect is stopped', () => {
       const obj = reactive({ prop: 1 })
diff --git a/packages/reactivity/package.json b/packages/reactivity/package.json
index 041f752c9f7..6b882fe1184 100644
--- a/packages/reactivity/package.json
+++ b/packages/reactivity/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/reactivity",
-  "version": "3.4.11",
+  "version": "3.4.12",
   "description": "@vue/reactivity",
   "main": "index.js",
   "module": "dist/reactivity.esm-bundler.js",
diff --git a/packages/reactivity/src/effect.ts b/packages/reactivity/src/effect.ts
index 8876604bc7a..5ddf8e6f0ac 100644
--- a/packages/reactivity/src/effect.ts
+++ b/packages/reactivity/src/effect.ts
@@ -295,9 +295,7 @@ export function triggerEffects(
     }
     if (
       effect._dirtyLevel < dirtyLevel &&
-      (!effect._runnings ||
-        effect.allowRecurse ||
-        dirtyLevel !== DirtyLevels.ComputedValueDirty)
+      (!effect._runnings || dirtyLevel !== DirtyLevels.ComputedValueDirty)
     ) {
       const lastDirtyLevel = effect._dirtyLevel
       effect._dirtyLevel = dirtyLevel
diff --git a/packages/runtime-core/package.json b/packages/runtime-core/package.json
index b0aab75df43..17d984a9648 100644
--- a/packages/runtime-core/package.json
+++ b/packages/runtime-core/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/runtime-core",
-  "version": "3.4.11",
+  "version": "3.4.12",
   "description": "@vue/runtime-core",
   "main": "index.js",
   "module": "dist/runtime-core.esm-bundler.js",
diff --git a/packages/runtime-dom/package.json b/packages/runtime-dom/package.json
index 5cee82357aa..c2fd6161acc 100644
--- a/packages/runtime-dom/package.json
+++ b/packages/runtime-dom/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/runtime-dom",
-  "version": "3.4.11",
+  "version": "3.4.12",
   "description": "@vue/runtime-dom",
   "main": "index.js",
   "module": "dist/runtime-dom.esm-bundler.js",
diff --git a/packages/server-renderer/package.json b/packages/server-renderer/package.json
index de746beb757..4315ce416cb 100644
--- a/packages/server-renderer/package.json
+++ b/packages/server-renderer/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/server-renderer",
-  "version": "3.4.11",
+  "version": "3.4.12",
   "description": "@vue/server-renderer",
   "main": "index.js",
   "module": "dist/server-renderer.esm-bundler.js",
diff --git a/packages/shared/package.json b/packages/shared/package.json
index 01847a44832..efd8d80c731 100644
--- a/packages/shared/package.json
+++ b/packages/shared/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/shared",
-  "version": "3.4.11",
+  "version": "3.4.12",
   "description": "internal utils shared across @vue packages",
   "main": "index.js",
   "module": "dist/shared.esm-bundler.js",
diff --git a/packages/vue-compat/package.json b/packages/vue-compat/package.json
index 3d8e042c97b..4f9a15789ae 100644
--- a/packages/vue-compat/package.json
+++ b/packages/vue-compat/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compat",
-  "version": "3.4.11",
+  "version": "3.4.12",
   "description": "Vue 3 compatibility build for Vue 2",
   "main": "index.js",
   "module": "dist/vue.runtime.esm-bundler.js",
diff --git a/packages/vue/package.json b/packages/vue/package.json
index 01b590d1cfd..f0c4696d9d2 100644
--- a/packages/vue/package.json
+++ b/packages/vue/package.json
@@ -1,6 +1,6 @@
 {
   "name": "vue",
-  "version": "3.4.11",
+  "version": "3.4.12",
   "description": "The progressive JavaScript framework for building modern web UI.",
   "main": "index.js",
   "module": "dist/vue.runtime.esm-bundler.js",