diff --git a/docs/protocols/alpha.rst b/docs/protocols/alpha.rst
index 777c0c5c59f51a75ac07547f3d96cf207d23abe8..dcc23a01582a0ec6f7c3e812ff69399cd4626ee6 100644
--- a/docs/protocols/alpha.rst
+++ b/docs/protocols/alpha.rst
@@ -25,6 +25,10 @@ Smart Rollups
 - The ``transferring`` parameter from smart rollup client command
   ``get proof for message <index> of outbox at level <level>`` is now optional. (MR :gl:`!9461`)
 
+- Enable the latest version of the WASM PVM (``2.0.0-r3``). Existing smart
+  rollups will see their PVM automatically upgrade, and newly originated smart
+  rollups will use this version directly (MR :gl:`!9735`)
+
 Zero Knowledge Rollups (ongoing)
 --------------------------------
 
diff --git a/src/lib_protocol_environment/environment_V11.ml b/src/lib_protocol_environment/environment_V11.ml
index 9a6f8f2a8102be90b9b47f6d247d797c63d6cb84..9123d2de9b19550c826b156a32fb8320923123c3 100644
--- a/src/lib_protocol_environment/environment_V11.ml
+++ b/src/lib_protocol_environment/environment_V11.ml
@@ -1164,7 +1164,7 @@ struct
 
     type version = Tezos_scoru_wasm.Wasm_pvm_state.version
 
-    let v2 = Tezos_scoru_wasm.Wasm_pvm_state.V2
+    let v3 = Tezos_scoru_wasm.Wasm_pvm_state.V3
 
     module Make
         (Tree : Context.TREE with type key = string list and type value = bytes) =
diff --git a/src/lib_protocol_environment/sigs/v11.ml b/src/lib_protocol_environment/sigs/v11.ml
index 6ae8806d22141304e6a834ffcd64a519241834bf..29c9d3340f681a4588113186770535f7984f8d50 100644
--- a/src/lib_protocol_environment/sigs/v11.ml
+++ b/src/lib_protocol_environment/sigs/v11.ml
@@ -12098,7 +12098,7 @@ end
 
 type version
 
-val v2 : version
+val v3 : version
 
 type input = {inbox_level : Bounded.Non_negative_int32.t; message_counter : Z.t}
 
diff --git a/src/lib_protocol_environment/sigs/v11/wasm_2_0_0.mli b/src/lib_protocol_environment/sigs/v11/wasm_2_0_0.mli
index 765950e3b0fdd886f85d81bd802c6a42c0c35bb9..46b48b4a54438610d9bd2b71953683151e060345 100644
--- a/src/lib_protocol_environment/sigs/v11/wasm_2_0_0.mli
+++ b/src/lib_protocol_environment/sigs/v11/wasm_2_0_0.mli
@@ -25,7 +25,7 @@
 
 type version
 
-val v2 : version
+val v3 : version
 
 type input = {inbox_level : Bounded.Non_negative_int32.t; message_counter : Z.t}
 
diff --git a/src/lib_scoru_wasm/test/test_protocol_migration.ml b/src/lib_scoru_wasm/test/test_protocol_migration.ml
index 7ce6ac9dac68ed1c0166557de93207e6cd70c643..9de1b60b366b87025af7eddaf42b468dc8190e80 100644
--- a/src/lib_scoru_wasm/test/test_protocol_migration.ml
+++ b/src/lib_scoru_wasm/test/test_protocol_migration.ml
@@ -76,7 +76,7 @@ let tests =
            ~from_version
            ~to_version
            ~after_protocol_activation:protocol))
-    [(V0, V1, Nairobi); (V1, V2, Proto_alpha)]
+    [(V0, V1, Nairobi); (V1, V2, Oxford); (V2, V3, Proto_alpha)]
 
 let () =
   Alcotest_lwt.run
diff --git a/src/lib_scoru_wasm/wasm_vm.ml b/src/lib_scoru_wasm/wasm_vm.ml
index aa497d2299e7e55dad6fb6b96f54724596de4026..c699e0e5cf6239211a6a917086ea338219d1c54b 100644
--- a/src/lib_scoru_wasm/wasm_vm.ml
+++ b/src/lib_scoru_wasm/wasm_vm.ml
@@ -30,7 +30,7 @@ let version_for_protocol : Pvm_input_kind.protocol -> Wasm_pvm_state.version =
   function
   | Nairobi -> V1
   | Oxford -> V2
-  | Proto_alpha -> V2
+  | Proto_alpha -> V3
 
 let link_finished (ast : Wasm.Ast.module_) offset =
   offset >= Wasm.Ast.Vector.num_elements ast.it.imports
diff --git a/src/proto_alpha/lib_protocol/sc_rollup_wasm.ml b/src/proto_alpha/lib_protocol/sc_rollup_wasm.ml
index 6f8ff76299503f620097e803c0ff0598b70ce5a6..849487f0124abca67e67d1c5874a9f09c7ce7a97 100644
--- a/src/proto_alpha/lib_protocol/sc_rollup_wasm.ml
+++ b/src/proto_alpha/lib_protocol/sc_rollup_wasm.ml
@@ -103,7 +103,7 @@ let () =
     (fun () -> WASM_invalid_dissection_distribution)
 
 module V2_0_0 = struct
-  let current_version = Wasm_2_0_0.v2
+  let current_version = Wasm_2_0_0.v3
 
   let ticks_per_snapshot = Z.of_int64 11_000_000_000L
 
@@ -154,7 +154,7 @@ module V2_0_0 = struct
   *)
   let reference_initial_state_hash =
     Sc_rollup_repr.State_hash.of_b58check_exn
-      "srs11qkRe5cbDBixB2fuumn4tfkvQcxUSuFXa94Lv5c6kdzzfpM9UF"
+      "srs127FAyj2NkJYtN8RE8yPieBGpakvAH8MgwzRPUM4UnsCKB24rrA"
 
   open Sc_rollup_repr
   module PS = Sc_rollup_PVM_sig
diff --git a/tezt/tests/expected/sc_rollup.ml/Alpha- wasm_2_0_0 - RPC API should work and be stable.out b/tezt/tests/expected/sc_rollup.ml/Alpha- wasm_2_0_0 - RPC API should work and be stable.out
index 7dd94fbb3ffef3d7021e9f42078dd8b44e197a22..8377e0059e21571dd3e2eb56b11cacb81222a403 100644
--- a/tezt/tests/expected/sc_rollup.ml/Alpha- wasm_2_0_0 - RPC API should work and be stable.out	
+++ b/tezt/tests/expected/sc_rollup.ml/Alpha- wasm_2_0_0 - RPC API should work and be stable.out	
@@ -251,7 +251,7 @@ Smart rollup [SMART_ROLLUP_HASH] memorized as "rollup"
 null
 
 ./octez-smart-rollup-client-alpha rpc get '/global/block/head/durable/wasm_2_0_0/value?key=/readonly/wasm_version'
-"322e302e302d7232"
+"322e302e302d7233"
 
 ./octez-smart-rollup-client-alpha rpc get '/global/block/head/durable/wasm_2_0_0/length?key=/readonly/wasm_version'
 "8"
diff --git a/tezt/tests/sc_rollup.ml b/tezt/tests/sc_rollup.ml
index 90583cec2acb91b25752abb3575d2129e132cc5e..d3eef0e3d68c174cfd391e5ea796a7ac4ff99ab4 100644
--- a/tezt/tests/sc_rollup.ml
+++ b/tezt/tests/sc_rollup.ml
@@ -43,7 +43,8 @@ open Sc_rollup_helpers
 *)
 
 let default_wasm_pvm_revision = function
-  | Protocol.Alpha | Protocol.Oxford -> "2.0.0-r2"
+  | Protocol.Alpha -> "2.0.0-r3"
+  | Protocol.Oxford -> "2.0.0-r2"
   | Protocol.Nairobi -> "2.0.0-r1"
 
 let assert_some_client_command cmd ~__LOC__ ?hooks client =