diff --git a/.github/workflows/deploy_microsite.yml b/.github/workflows/deploy_microsite.yml
index ac02794268..c5d8cc26c2 100644
--- a/.github/workflows/deploy_microsite.yml
+++ b/.github/workflows/deploy_microsite.yml
@@ -8,14 +8,148 @@ permissions:
   contents: read
 
 jobs:
-  deploy-microsite-and-storybook:
-    permissions:
-      contents: write # for JamesIves/github-pages-deploy-action to push changes in repo
+  stable:
     runs-on: ubuntu-latest
+    concurrency:
+      group: stable-reference-${{ github.workflow }}-${{ github.ref }}
+      cancel-in-progress: true
 
     env:
       CI: true
       NODE_OPTIONS: --max-old-space-size=8192
+
+    outputs:
+      release: ${{ steps.find-release.outputs.result }}
+
+    steps:
+      - name: Harden Runner
+        uses: step-security/harden-runner@5c7944e73c4c2a096b17a9cb74d65b6c2bbafbde # v2.9.1
+        with:
+          egress-policy: audit
+
+      - name: find latest release
+        uses: actions/github-script@v7
+        id: find-release
+        with:
+          script: |
+            const { data } = await github.rest.repos.listTags({
+              owner: context.repo.owner,
+              repo: context.repo.repo,
+              per_page: 100,
+            })
+
+            const [{tag}] = data
+              .map(i => i.name)
+              .filter(tag => tag.match(/^v\d+\.\d+\.\d+$/))
+              .map(tag => ({
+                tag,
+                val: tag
+                  .slice(1)
+                  .split('.')
+                  .reduce((val, part) => Number(val) * 1000 + Number(part))
+              }))
+              .sort((a, b) => b.val - a.val)
+
+            return tag
+          result-encoding: string
+
+      - name: checkout latest release
+        uses: actions/checkout@692973e3d937129bcbf40652eb9f2f61becf3332 # v4.1.7
+        with:
+          ref: refs/tags/${{ steps.find-release.outputs.result }}
+
+      - name: use node.js 18.x
+        uses: actions/setup-node@1e60f620b9541d16bece96c5465dc8ee9832be0b # v4.0.3
+        with:
+          node-version: 18.x
+          registry-url: https://registry.npmjs.org/ # Needed for auth
+
+      - name: yarn install
+        uses: backstage/actions/yarn-install@3c138326f7fcbf253b88170c1f29bae8e975d47c # v0.6.14
+        with:
+          cache-prefix: ${{ runner.os }}-v18.x
+
+      - name: build API reference
+        run: yarn build:api-docs
+
+      - name: upload API reference
+        uses: actions/upload-artifact@v4
+        with:
+          name: stable-reference
+          path: docs/reference/
+          if-no-files-found: error
+          retention-days: 1
+
+  next:
+    runs-on: ubuntu-latest
+    concurrency:
+      group: next-reference-${{ github.workflow }}-${{ github.ref }}
+      cancel-in-progress: true
+    env:
+      CI: true
+      NODE_OPTIONS: --max-old-space-size=8192
+
+    steps:
+      - name: Harden Runner
+        uses: step-security/harden-runner@5c7944e73c4c2a096b17a9cb74d65b6c2bbafbde # v2.9.1
+        with:
+          egress-policy: audit
+
+      - name: checkout master
+        uses: actions/checkout@692973e3d937129bcbf40652eb9f2f61becf3332 # v4.1.7
+
+      - name: use node.js 18.x
+        uses: actions/setup-node@1e60f620b9541d16bece96c5465dc8ee9832be0b # v4.0.3
+        with:
+          node-version: 18.x
+          registry-url: https://registry.npmjs.org/ # Needed for auth
+
+      - name: yarn install
+        uses: backstage/actions/yarn-install@3c138326f7fcbf253b88170c1f29bae8e975d47c # v0.6.14
+        with:
+          cache-prefix: ${{ runner.os }}-v18.x
+
+      - name: build API reference
+        run: yarn build:api-docs
+
+      - name: upload API reference
+        uses: actions/upload-artifact@v4
+        with:
+          name: next-reference
+          path: docs/reference/
+          if-no-files-found: error
+          retention-days: 1
+
+        # Also build and upload storybook
+      - name: storybook yarn install
+        run: yarn install --immutable
+        working-directory: storybook
+
+      - name: storybook build
+        run: yarn build-storybook
+        working-directory: storybook
+
+      - name: storybook upload
+        uses: actions/upload-artifact@v4
+        with:
+          name: storybook
+          path: storybook/dist/
+          if-no-files-found: error
+          retention-days: 1
+
+  deploy-microsite-and-storybook:
+    permissions:
+      contents: write # for JamesIves/github-pages-deploy-action to push changes in repo
+
+    runs-on: ubuntu-latest
+
+    needs:
+      - stable
+      - next
+
+    env:
+      CI: true
+      NODE_OPTIONS: --max-old-space-size=16384
       DOCUSAURUS_SSR_CONCURRENCY: 5
 
     concurrency:
@@ -28,39 +162,59 @@ jobs:
         with:
           egress-policy: audit
 
-      - uses: actions/checkout@692973e3d937129bcbf40652eb9f2f61becf3332 # v4.1.7
-
       - name: use node.js 18.x
         uses: actions/setup-node@1e60f620b9541d16bece96c5465dc8ee9832be0b # v4.0.3
         with:
           node-version: 18.x
           registry-url: https://registry.npmjs.org/ # Needed for auth
 
-      # We avoid caching in this workflow, as we're running an install of both the top-level
-      # dependencies and the microsite. We leave it to the main master workflow to produce the
-      # cache, as that results in a smaller bundle.
-      - name: top-level yarn install
-        run: yarn install --immutable
+      # Stable docs
+      - name: checkout latest release
+        uses: actions/checkout@692973e3d937129bcbf40652eb9f2f61becf3332 # v4.1.7
+        with:
+          ref: refs/tags/${{ needs.stable.outputs.release }}
+
       - name: microsite yarn install
         run: yarn install --immutable
         working-directory: microsite
-      - name: storybook yarn install
-        run: yarn install --immutable
-        working-directory: storybook
 
-      - name: build API reference
-        run: yarn build:api-docs
+      - name: download stable reference
+        uses: actions/download-artifact@v4
+        with:
+          name: stable-reference
+          path: docs/reference
+
+      - name: generate stable docs
+        run: yarn docusaurus docs:version stable
+        working-directory: microsite
+
+      - name: clear API reference
+        run: rm -r docs/reference
+
+      # Next docs
+      - name: checkout master
+        uses: actions/checkout@692973e3d937129bcbf40652eb9f2f61becf3332 # v4.1.7
+        with:
+          clean: false
+
+      - name: microsite yarn install
+        run: yarn install --immutable
+        working-directory: microsite
+
+      - name: download next reference
+        uses: actions/download-artifact@v4
+        with:
+          name: next-reference
+          path: docs/reference
 
       - name: build microsite
         run: yarn build
         working-directory: microsite
 
-      - name: build storybook
-        run: yarn build-storybook
-        working-directory: storybook
-
-      - name: move storybook dist into microsite
-        run: mv storybook/dist/ microsite/build/storybook
+      - uses: actions/download-artifact@v4
+        with:
+          name: storybook
+          path: microsite/build/storybook
 
       - name: Check the build output
         run: ls microsite/build && ls microsite/build/storybook
diff --git a/.gitignore b/.gitignore
index 6db4bf549c..865918c1f7 100644
--- a/.gitignore
+++ b/.gitignore
@@ -42,6 +42,9 @@ coverage
 # Bower dependency directory (https://bower.io/)
 bower_components
 
+# Documentation reference, generated by build:api-docs
+docs/reference
+
 # node-waf configuration
 .lock-wscript
 
diff --git a/docs/.gitignore b/docs/.gitignore
deleted file mode 100644
index 90b1e2c7ef..0000000000
--- a/docs/.gitignore
+++ /dev/null
@@ -1,2 +0,0 @@
-# This is generated by build:api-docs in the root
-reference
diff --git a/microsite/docusaurus.config.ts b/microsite/docusaurus.config.ts
index a6909f139f..96edb57dea 100644
--- a/microsite/docusaurus.config.ts
+++ b/microsite/docusaurus.config.ts
@@ -21,9 +21,38 @@
 import { themes } from 'prism-react-renderer';
 import type * as Preset from '@docusaurus/preset-classic';
 import { Config } from '@docusaurus/types';
+import RedirectPlugin from '@docusaurus/plugin-client-redirects';
+
 const backstageTheme = themes.vsDark;
 backstageTheme.plain.backgroundColor = '#232323';
 
+const useVersionedDocs = require('fs').existsSync('versions.json');
+
+// This patches the redirect plugin to ignore the error when it tries to override existing fields.
+// This lets us add redirects that only apply to the next docs, while the stable docs still contain the source path.
+const PatchedRedirectPlugin: typeof RedirectPlugin = (ctx, opts) => {
+  const plugin = RedirectPlugin(ctx, opts);
+
+  return {
+    ...plugin,
+    async postBuild(...args) {
+      try {
+        await plugin.postBuild(...args);
+      } catch (error) {
+        if (
+          error.message ===
+          'The redirect plugin is not supposed to override existing files.'
+        ) {
+          // Bit of a hack to make sure all remaining redirects are written, since the write uses Promise.all
+          await new Promise(resolve => setTimeout(resolve, 1000));
+        } else {
+          throw error;
+        }
+      }
+    },
+  };
+};
+
 const config: Config = {
   title: 'Backstage Software Catalog and Developer Platform',
   tagline: 'An open source framework for building developer portals',
@@ -57,6 +86,26 @@ const config: Config = {
           editUrl: 'https://github.com/backstage/backstage/edit/master/docs/',
           path: '../docs',
           sidebarPath: 'sidebars.json',
+          ...(useVersionedDocs
+            ? {
+                includeCurrentVersion: true,
+                lastVersion: 'stable',
+                versions: {
+                  stable: {
+                    label: 'Stable',
+                    path: '/',
+                    banner: 'none',
+                    badge: false,
+                  },
+                  current: {
+                    label: 'Next',
+                    path: '/next',
+                    banner: 'unreleased',
+                    badge: true,
+                  },
+                },
+              }
+            : undefined),
         },
         blog: {
           path: 'blog',
@@ -119,9 +168,11 @@ const config: Config = {
         };
       },
     }),
-    [
-      '@docusaurus/plugin-client-redirects',
-      {
+    ctx =>
+      PatchedRedirectPlugin(ctx, {
+        id: '@docusaurus/plugin-client-redirects',
+        toExtensions: [],
+        fromExtensions: [],
         redirects: [
           {
             from: '/docs',
@@ -200,8 +251,7 @@ const config: Config = {
             to: '/docs/backend-system/core-services/url-reader',
           },
         ],
-      },
-    ],
+      }),
     [
       'docusaurus-pushfeedback',
       {
@@ -259,6 +309,14 @@ const config: Config = {
           label: 'Community',
           position: 'left',
         },
+        ...(useVersionedDocs
+          ? [
+              {
+                type: 'docsVersionDropdown',
+                position: 'right' as const,
+              },
+            ]
+          : []),
       ],
     },
     image: 'img/sharing-opengraph.png',
diff --git a/microsite/sidebars.json b/microsite/sidebars.json
index 6038229bf0..d134486024 100644
--- a/microsite/sidebars.json
+++ b/microsite/sidebars.json
@@ -1,39 +1,4 @@
 {
-  "releases": {
-    "Release Notes": [
-      "releases/v1.30.0",
-      "releases/v1.29.0",
-      "releases/v1.28.0",
-      "releases/v1.27.0",
-      "releases/v1.26.0",
-      "releases/v1.25.0",
-      "releases/v1.24.0",
-      "releases/v1.23.0",
-      "releases/v1.22.0",
-      "releases/v1.21.0",
-      "releases/v1.20.0",
-      "releases/v1.19.0",
-      "releases/v1.18.0",
-      "releases/v1.17.0",
-      "releases/v1.16.0",
-      "releases/v1.15.0",
-      "releases/v1.14.0",
-      "releases/v1.13.0",
-      "releases/v1.12.0",
-      "releases/v1.11.0",
-      "releases/v1.10.0",
-      "releases/v1.9.0",
-      "releases/v1.8.0",
-      "releases/v1.7.0",
-      "releases/v1.6.0",
-      "releases/v1.5.0",
-      "releases/v1.4.0",
-      "releases/v1.3.0",
-      "releases/v1.2.0",
-      "releases/v1.1.0",
-      "releases/v1.0.0"
-    ]
-  },
   "docs": {
     "Overview": [
       "overview/what-is-backstage",
@@ -556,5 +521,40 @@
       "contribute/project-structure"
     ],
     "References": ["references/glossary"]
+  },
+  "releases": {
+    "Release Notes": [
+      "releases/v1.30.0",
+      "releases/v1.29.0",
+      "releases/v1.28.0",
+      "releases/v1.27.0",
+      "releases/v1.26.0",
+      "releases/v1.25.0",
+      "releases/v1.24.0",
+      "releases/v1.23.0",
+      "releases/v1.22.0",
+      "releases/v1.21.0",
+      "releases/v1.20.0",
+      "releases/v1.19.0",
+      "releases/v1.18.0",
+      "releases/v1.17.0",
+      "releases/v1.16.0",
+      "releases/v1.15.0",
+      "releases/v1.14.0",
+      "releases/v1.13.0",
+      "releases/v1.12.0",
+      "releases/v1.11.0",
+      "releases/v1.10.0",
+      "releases/v1.9.0",
+      "releases/v1.8.0",
+      "releases/v1.7.0",
+      "releases/v1.6.0",
+      "releases/v1.5.0",
+      "releases/v1.4.0",
+      "releases/v1.3.0",
+      "releases/v1.2.0",
+      "releases/v1.1.0",
+      "releases/v1.0.0"
+    ]
   }
 }