diff --git a/lavamoat/browserify/beta/policy.json b/lavamoat/browserify/beta/policy.json
index 4212ef454eea..52e53af28a1e 100644
--- a/lavamoat/browserify/beta/policy.json
+++ b/lavamoat/browserify/beta/policy.json
@@ -1694,10 +1694,10 @@
         "@metamask/network-controller>@metamask/eth-block-tracker": true,
         "@metamask/network-controller>@metamask/eth-json-rpc-infura": true,
         "@metamask/network-controller>@metamask/swappable-obj-proxy": true,
-        "@metamask/network-controller>reselect": true,
         "@metamask/rpc-errors": true,
         "@metamask/utils": true,
         "eslint>fast-deep-equal": true,
+        "reselect": true,
         "uri-js": true,
         "uuid": true
       }
@@ -1756,13 +1756,6 @@
         "semver": true
       }
     },
-    "@metamask/network-controller>reselect": {
-      "globals": {
-        "WeakRef": true,
-        "console.warn": true,
-        "unstable_autotrackMemoize": true
-      }
-    },
     "@metamask/notification-controller>nanoid": {
       "globals": {
         "crypto.getRandomValues": true
@@ -5138,6 +5131,13 @@
         "@babel/runtime": true
       }
     },
+    "reselect": {
+      "globals": {
+        "WeakRef": true,
+        "console.warn": true,
+        "unstable_autotrackMemoize": true
+      }
+    },
     "semver": {
       "globals": {
         "console.error": true
diff --git a/lavamoat/browserify/flask/policy.json b/lavamoat/browserify/flask/policy.json
index 4212ef454eea..52e53af28a1e 100644
--- a/lavamoat/browserify/flask/policy.json
+++ b/lavamoat/browserify/flask/policy.json
@@ -1694,10 +1694,10 @@
         "@metamask/network-controller>@metamask/eth-block-tracker": true,
         "@metamask/network-controller>@metamask/eth-json-rpc-infura": true,
         "@metamask/network-controller>@metamask/swappable-obj-proxy": true,
-        "@metamask/network-controller>reselect": true,
         "@metamask/rpc-errors": true,
         "@metamask/utils": true,
         "eslint>fast-deep-equal": true,
+        "reselect": true,
         "uri-js": true,
         "uuid": true
       }
@@ -1756,13 +1756,6 @@
         "semver": true
       }
     },
-    "@metamask/network-controller>reselect": {
-      "globals": {
-        "WeakRef": true,
-        "console.warn": true,
-        "unstable_autotrackMemoize": true
-      }
-    },
     "@metamask/notification-controller>nanoid": {
       "globals": {
         "crypto.getRandomValues": true
@@ -5138,6 +5131,13 @@
         "@babel/runtime": true
       }
     },
+    "reselect": {
+      "globals": {
+        "WeakRef": true,
+        "console.warn": true,
+        "unstable_autotrackMemoize": true
+      }
+    },
     "semver": {
       "globals": {
         "console.error": true
diff --git a/lavamoat/browserify/main/policy.json b/lavamoat/browserify/main/policy.json
index 4212ef454eea..52e53af28a1e 100644
--- a/lavamoat/browserify/main/policy.json
+++ b/lavamoat/browserify/main/policy.json
@@ -1694,10 +1694,10 @@
         "@metamask/network-controller>@metamask/eth-block-tracker": true,
         "@metamask/network-controller>@metamask/eth-json-rpc-infura": true,
         "@metamask/network-controller>@metamask/swappable-obj-proxy": true,
-        "@metamask/network-controller>reselect": true,
         "@metamask/rpc-errors": true,
         "@metamask/utils": true,
         "eslint>fast-deep-equal": true,
+        "reselect": true,
         "uri-js": true,
         "uuid": true
       }
@@ -1756,13 +1756,6 @@
         "semver": true
       }
     },
-    "@metamask/network-controller>reselect": {
-      "globals": {
-        "WeakRef": true,
-        "console.warn": true,
-        "unstable_autotrackMemoize": true
-      }
-    },
     "@metamask/notification-controller>nanoid": {
       "globals": {
         "crypto.getRandomValues": true
@@ -5138,6 +5131,13 @@
         "@babel/runtime": true
       }
     },
+    "reselect": {
+      "globals": {
+        "WeakRef": true,
+        "console.warn": true,
+        "unstable_autotrackMemoize": true
+      }
+    },
     "semver": {
       "globals": {
         "console.error": true
diff --git a/lavamoat/browserify/mmi/policy.json b/lavamoat/browserify/mmi/policy.json
index 5234fe8d6fbb..b10d976bb08c 100644
--- a/lavamoat/browserify/mmi/policy.json
+++ b/lavamoat/browserify/mmi/policy.json
@@ -1786,10 +1786,10 @@
         "@metamask/network-controller>@metamask/eth-block-tracker": true,
         "@metamask/network-controller>@metamask/eth-json-rpc-infura": true,
         "@metamask/network-controller>@metamask/swappable-obj-proxy": true,
-        "@metamask/network-controller>reselect": true,
         "@metamask/rpc-errors": true,
         "@metamask/utils": true,
         "eslint>fast-deep-equal": true,
+        "reselect": true,
         "uri-js": true,
         "uuid": true
       }
@@ -1848,13 +1848,6 @@
         "semver": true
       }
     },
-    "@metamask/network-controller>reselect": {
-      "globals": {
-        "WeakRef": true,
-        "console.warn": true,
-        "unstable_autotrackMemoize": true
-      }
-    },
     "@metamask/notification-controller>nanoid": {
       "globals": {
         "crypto.getRandomValues": true
@@ -5230,6 +5223,13 @@
         "@babel/runtime": true
       }
     },
+    "reselect": {
+      "globals": {
+        "WeakRef": true,
+        "console.warn": true,
+        "unstable_autotrackMemoize": true
+      }
+    },
     "semver": {
       "globals": {
         "console.error": true
diff --git a/package.json b/package.json
index 893308a2ef35..6936ad051ece 100644
--- a/package.json
+++ b/package.json
@@ -426,7 +426,7 @@
     "redux": "^4.0.5",
     "redux-thunk": "^2.3.0",
     "remove-trailing-slash": "^0.1.1",
-    "reselect": "^3.0.1",
+    "reselect": "^5.1.1",
     "ses": "^1.1.0",
     "simple-git": "^3.20.0",
     "single-call-balance-checker-abi": "^1.0.0",
diff --git a/shared/modules/selectors/smart-transactions.ts b/shared/modules/selectors/smart-transactions.ts
index c9a696ba9b9e..9367c24853c6 100644
--- a/shared/modules/selectors/smart-transactions.ts
+++ b/shared/modules/selectors/smart-transactions.ts
@@ -84,6 +84,7 @@ export const getSmartTransactionsOptInStatusInternal = createSelector(
  * @returns true if the user has explicitly opted in, false if they have opted out,
  * or null if they have not explicitly opted in or out.
  */
+// @ts-expect-error TODO: Fix types for `getSmartTransactionsOptInStatusInternal` once `getPreferences is converted to TypeScript
 export const getSmartTransactionsOptInStatusForMetrics = createSelector(
   getSmartTransactionsOptInStatusInternal,
   (optInStatus: boolean): boolean => optInStatus,
@@ -96,6 +97,7 @@ export const getSmartTransactionsOptInStatusForMetrics = createSelector(
  * @param state
  * @returns
  */
+// @ts-expect-error TODO: Fix types for `getSmartTransactionsOptInStatusInternal` once `getPreferences is converted to TypeScript
 export const getSmartTransactionsPreferenceEnabled = createSelector(
   getSmartTransactionsOptInStatusInternal,
   (optInStatus: boolean): boolean => {
diff --git a/shared/modules/selectors/util.js b/shared/modules/selectors/util.js
index d44b7d905087..35153a82bc4d 100644
--- a/shared/modules/selectors/util.js
+++ b/shared/modules/selectors/util.js
@@ -1,9 +1,9 @@
 import { TransactionStatus } from '@metamask/transaction-controller';
 import { isEqual } from 'lodash';
-import { createSelectorCreator, defaultMemoize } from 'reselect';
+import { createSelectorCreator, lruMemoize } from 'reselect';
 
 export const createDeepEqualSelector = createSelectorCreator(
-  defaultMemoize,
+  lruMemoize,
   isEqual,
 );
 
diff --git a/ui/components/app/snaps/snap-authorship-pill/snap-authorship-pill.tsx b/ui/components/app/snaps/snap-authorship-pill/snap-authorship-pill.tsx
index fd8831f36e0f..3a52a5c43eef 100644
--- a/ui/components/app/snaps/snap-authorship-pill/snap-authorship-pill.tsx
+++ b/ui/components/app/snaps/snap-authorship-pill/snap-authorship-pill.tsx
@@ -22,7 +22,6 @@ const SnapAuthorshipPill: React.FC<SnapAuthorshipPillProps> = ({
   onClick,
 }) => {
   const { name: snapName } = useSelector((state) =>
-    // @ts-expect-error ts is picking up the wrong type for the selector
     getSnapMetadata(state, snapId),
   );
 
diff --git a/ui/components/app/snaps/snap-icon/snap-icon.tsx b/ui/components/app/snaps/snap-icon/snap-icon.tsx
index fa27616e4d97..5d81f97834b9 100644
--- a/ui/components/app/snaps/snap-icon/snap-icon.tsx
+++ b/ui/components/app/snaps/snap-icon/snap-icon.tsx
@@ -40,7 +40,6 @@ export const SnapIcon: FunctionComponent<SnapIconProps> = ({
   );
 
   const { name: snapName } = useSelector((state) =>
-    /* @ts-expect-error wrong type on selector. */
     getSnapMetadata(state, snapId),
   );
 
diff --git a/ui/ducks/bridge/selectors.test.ts b/ui/ducks/bridge/selectors.test.ts
index d90251e360f3..cd79a8e6454b 100644
--- a/ui/ducks/bridge/selectors.test.ts
+++ b/ui/ducks/bridge/selectors.test.ts
@@ -13,7 +13,11 @@ import {
 import { mockNetworkState } from '../../../test/stub/networks';
 import mockErc20Erc20Quotes from '../../../test/data/bridge/mock-quotes-erc20-erc20.json';
 import mockBridgeQuotesNativeErc20 from '../../../test/data/bridge/mock-quotes-native-erc20.json';
-import { SortOrder } from '../../pages/bridge/types';
+import {
+  QuoteMetadata,
+  QuoteResponse,
+  SortOrder,
+} from '../../pages/bridge/types';
 import {
   getAllBridgeableNetworks,
   getBridgeQuotes,
@@ -722,9 +726,11 @@ describe('Bridge selectors', () => {
         { valueInCurrency: new BigNumber('0.156562871410260918428') },
         { valueInCurrency: new BigNumber('0.33900008283534602') },
       ];
-      result.sortedQuotes.forEach((quote, idx) => {
-        expect(quote.cost).toStrictEqual(EXPECTED_SORTED_COSTS[idx]);
-      });
+      result.sortedQuotes.forEach(
+        (quote: QuoteMetadata & QuoteResponse, idx: number) => {
+          expect(quote.cost).toStrictEqual(EXPECTED_SORTED_COSTS[idx]);
+        },
+      );
       expect(result).toStrictEqual({
         sortedQuotes: expect.any(Array),
         recommendedQuote: {
@@ -827,9 +833,11 @@ describe('Bridge selectors', () => {
         { valueInCurrency: new BigNumber('0.15656287141025952') },
         { valueInCurrency: new BigNumber('0.33900008283534464') },
       ];
-      result.sortedQuotes.forEach((quote, idx) => {
-        expect(quote.cost).toStrictEqual(EXPECTED_SORTED_COSTS[idx]);
-      });
+      result.sortedQuotes.forEach(
+        (quote: QuoteMetadata & QuoteResponse, idx: number) => {
+          expect(quote.cost).toStrictEqual(EXPECTED_SORTED_COSTS[idx]);
+        },
+      );
 
       expect(result).toStrictEqual({
         sortedQuotes: expect.any(Array),
@@ -898,14 +906,18 @@ describe('Bridge selectors', () => {
         '381c23bc-e3e4-48fe-bc53-257471e388ad',
       );
       expect(sortedQuotes).toHaveLength(2);
-      sortedQuotes.forEach((quote, idx) => {
-        expect(
-          quoteMetadataKeys.every((k) => Object.keys(quote ?? {}).includes(k)),
-        ).toBe(true);
-        expect(quote?.quote.requestId).toStrictEqual(
-          mockBridgeQuotesNativeErc20[idx]?.quote.requestId,
-        );
-      });
+      sortedQuotes.forEach(
+        (quote: QuoteMetadata & QuoteResponse, idx: number) => {
+          expect(
+            quoteMetadataKeys.every((k) =>
+              Object.keys(quote ?? {}).includes(k),
+            ),
+          ).toBe(true);
+          expect(quote?.quote.requestId).toStrictEqual(
+            mockBridgeQuotesNativeErc20[idx]?.quote.requestId,
+          );
+        },
+      );
     });
 
     it('should sort quotes by ETA', () => {
diff --git a/ui/pages/bridge/quotes/bridge-quotes-modal.tsx b/ui/pages/bridge/quotes/bridge-quotes-modal.tsx
index d251b8ab72f5..d50a2ad3bbd9 100644
--- a/ui/pages/bridge/quotes/bridge-quotes-modal.tsx
+++ b/ui/pages/bridge/quotes/bridge-quotes-modal.tsx
@@ -26,7 +26,7 @@ import {
 import { useI18nContext } from '../../../hooks/useI18nContext';
 import { getCurrentCurrency } from '../../../selectors';
 import { setSelectedQuote, setSortOrder } from '../../../ducks/bridge/actions';
-import { SortOrder } from '../types';
+import { QuoteMetadata, QuoteResponse, SortOrder } from '../types';
 import {
   getBridgeQuotes,
   getBridgeSortOrder,
@@ -135,127 +135,129 @@ export const BridgeQuotesModal = ({
         </Row>
         {/* QUOTE LIST */}
         <Column style={{ overflow: 'scroll' }}>
-          {sortedQuotes.map((quote, index) => {
-            const {
-              totalNetworkFee,
-              estimatedProcessingTimeInSeconds,
-              toTokenAmount,
-              cost,
-              quote: { destAsset, bridges, requestId },
-            } = quote;
-            const isQuoteActive = requestId === activeQuote?.quote.requestId;
-            const isRecommendedQuote =
-              requestId === recommendedQuote?.quote.requestId;
+          {sortedQuotes.map(
+            (quote: QuoteMetadata & QuoteResponse, index: number) => {
+              const {
+                totalNetworkFee,
+                estimatedProcessingTimeInSeconds,
+                toTokenAmount,
+                cost,
+                quote: { destAsset, bridges, requestId },
+              } = quote;
+              const isQuoteActive = requestId === activeQuote?.quote.requestId;
+              const isRecommendedQuote =
+                requestId === recommendedQuote?.quote.requestId;
 
-            return (
-              <Row
-                alignItems={AlignItems.flexStart}
-                key={index}
-                backgroundColor={
-                  isQuoteActive ? BackgroundColor.primaryMuted : undefined
-                }
-                onClick={() => {
-                  dispatch(setSelectedQuote(quote));
-                  // Emit QuoteSelected event after dispatching setSelectedQuote
-                  quoteRequestProperties &&
-                    requestMetadataProperties &&
-                    quoteListProperties &&
-                    tradeProperties &&
-                    trackCrossChainSwapsEvent({
-                      event: MetaMetricsEventName.QuoteSelected,
-                      properties: {
-                        ...quoteRequestProperties,
-                        ...requestMetadataProperties,
-                        ...quoteListProperties,
-                        ...tradeProperties,
-                        is_best_quote: isRecommendedQuote,
-                      },
-                    });
-                  onClose();
-                }}
-                paddingInline={4}
-                paddingTop={3}
-                paddingBottom={3}
-                style={{ position: 'relative', height: 78 }}
-              >
-                {isQuoteActive && (
-                  <Column
-                    style={{
-                      position: 'absolute',
-                      left: 4,
-                      top: 4,
-                      height: 70,
-                      width: 4,
-                      borderRadius: 8,
-                    }}
-                    backgroundColor={BackgroundColor.primaryDefault}
-                  />
-                )}
-                <Column>
-                  <Text variant={TextVariant.bodyMd}>
-                    {cost.valueInCurrency &&
-                      formatCurrencyAmount(cost.valueInCurrency, currency, 0)}
-                  </Text>
-                  {[
-                    totalNetworkFee?.valueInCurrency
-                      ? t('quotedNetworkFee', [
+              return (
+                <Row
+                  alignItems={AlignItems.flexStart}
+                  key={index}
+                  backgroundColor={
+                    isQuoteActive ? BackgroundColor.primaryMuted : undefined
+                  }
+                  onClick={() => {
+                    dispatch(setSelectedQuote(quote));
+                    // Emit QuoteSelected event after dispatching setSelectedQuote
+                    quoteRequestProperties &&
+                      requestMetadataProperties &&
+                      quoteListProperties &&
+                      tradeProperties &&
+                      trackCrossChainSwapsEvent({
+                        event: MetaMetricsEventName.QuoteSelected,
+                        properties: {
+                          ...quoteRequestProperties,
+                          ...requestMetadataProperties,
+                          ...quoteListProperties,
+                          ...tradeProperties,
+                          is_best_quote: isRecommendedQuote,
+                        },
+                      });
+                    onClose();
+                  }}
+                  paddingInline={4}
+                  paddingTop={3}
+                  paddingBottom={3}
+                  style={{ position: 'relative', height: 78 }}
+                >
+                  {isQuoteActive && (
+                    <Column
+                      style={{
+                        position: 'absolute',
+                        left: 4,
+                        top: 4,
+                        height: 70,
+                        width: 4,
+                        borderRadius: 8,
+                      }}
+                      backgroundColor={BackgroundColor.primaryDefault}
+                    />
+                  )}
+                  <Column>
+                    <Text variant={TextVariant.bodyMd}>
+                      {cost.valueInCurrency &&
+                        formatCurrencyAmount(cost.valueInCurrency, currency, 0)}
+                    </Text>
+                    {[
+                      totalNetworkFee?.valueInCurrency
+                        ? t('quotedNetworkFee', [
+                            formatCurrencyAmount(
+                              totalNetworkFee.valueInCurrency,
+                              currency,
+                              0,
+                            ),
+                          ])
+                        : t('quotedNetworkFee', [
+                            formatTokenAmount(
+                              totalNetworkFee.amount,
+                              nativeCurrency,
+                            ),
+                          ]),
+                      t(
+                        sortOrder === SortOrder.ETA_ASC
+                          ? 'quotedReceivingAmount'
+                          : 'quotedReceiveAmount',
+                        [
                           formatCurrencyAmount(
-                            totalNetworkFee.valueInCurrency,
+                            toTokenAmount.valueInCurrency,
                             currency,
                             0,
-                          ),
-                        ])
-                      : t('quotedNetworkFee', [
-                          formatTokenAmount(
-                            totalNetworkFee.amount,
-                            nativeCurrency,
-                          ),
-                        ]),
-                    t(
-                      sortOrder === SortOrder.ETA_ASC
-                        ? 'quotedReceivingAmount'
-                        : 'quotedReceiveAmount',
-                      [
-                        formatCurrencyAmount(
-                          toTokenAmount.valueInCurrency,
-                          currency,
-                          0,
-                        ) ??
-                          formatTokenAmount(
-                            toTokenAmount.amount,
-                            destAsset.symbol,
-                            0,
-                          ),
-                      ],
-                    ),
-                  ]
-                    [sortOrder === SortOrder.ETA_ASC ? 'reverse' : 'slice']()
-                    .map((content) => (
-                      <Text
-                        key={content}
-                        variant={TextVariant.bodyXsMedium}
-                        color={TextColor.textAlternative}
-                      >
-                        {content}
-                      </Text>
-                    ))}
-                </Column>
-                <Column alignItems={AlignItems.flexEnd}>
-                  <Text variant={TextVariant.bodyMd}>
-                    {t('bridgeTimingMinutes', [
-                      formatEtaInMinutes(estimatedProcessingTimeInSeconds),
-                    ])}
-                  </Text>
-                  <Text
-                    variant={TextVariant.bodyXsMedium}
-                    color={TextColor.textAlternative}
-                  >
-                    {startCase(bridges[0])}
-                  </Text>
-                </Column>
-              </Row>
-            );
-          })}
+                          ) ??
+                            formatTokenAmount(
+                              toTokenAmount.amount,
+                              destAsset.symbol,
+                              0,
+                            ),
+                        ],
+                      ),
+                    ]
+                      [sortOrder === SortOrder.ETA_ASC ? 'reverse' : 'slice']()
+                      .map((content) => (
+                        <Text
+                          key={content}
+                          variant={TextVariant.bodyXsMedium}
+                          color={TextColor.textAlternative}
+                        >
+                          {content}
+                        </Text>
+                      ))}
+                  </Column>
+                  <Column alignItems={AlignItems.flexEnd}>
+                    <Text variant={TextVariant.bodyMd}>
+                      {t('bridgeTimingMinutes', [
+                        formatEtaInMinutes(estimatedProcessingTimeInSeconds),
+                      ])}
+                    </Text>
+                    <Text
+                      variant={TextVariant.bodyXsMedium}
+                      color={TextColor.textAlternative}
+                    >
+                      {startCase(bridges[0])}
+                    </Text>
+                  </Column>
+                </Row>
+              );
+            },
+          )}
         </Column>
       </ModalContent>
     </Modal>
diff --git a/ui/pages/confirmations/components/confirm/snaps/snaps-section/snap-insight.tsx b/ui/pages/confirmations/components/confirm/snaps/snaps-section/snap-insight.tsx
index 7102970b4f84..cd46f6ea7113 100644
--- a/ui/pages/confirmations/components/confirm/snaps/snaps-section/snap-insight.tsx
+++ b/ui/pages/confirmations/components/confirm/snaps/snaps-section/snap-insight.tsx
@@ -27,7 +27,6 @@ export const SnapInsight: React.FunctionComponent<SnapInsightProps> = ({
 }) => {
   const t = useI18nContext();
   const { name: snapName } = useSelector((state) =>
-    /* @ts-expect-error wrong type on selector. */
     getSnapMetadata(state, snapId),
   );
 
diff --git a/yarn.lock b/yarn.lock
index a4163ea118e5..2fbe7d7dd430 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -26818,7 +26818,7 @@ __metadata:
     redux-thunk: "npm:^2.3.0"
     remote-redux-devtools: "npm:^0.5.16"
     remove-trailing-slash: "npm:^0.1.1"
-    reselect: "npm:^3.0.1"
+    reselect: "npm:^5.1.1"
     resolve-url-loader: "npm:^3.1.5"
     sass-embedded: "npm:^1.71.0"
     sass-loader: "npm:^14.1.1"
@@ -32229,13 +32229,6 @@ __metadata:
   languageName: node
   linkType: hard
 
-"reselect@npm:^3.0.1":
-  version: 3.0.1
-  resolution: "reselect@npm:3.0.1"
-  checksum: 10/ebafc7b2d0e907aa1e2e16d37bb1c7c37e9291b3656a7e7bfb9c9523faeaa65ef3db9dec669da250c2b81f59f3231cf3143b0c8e76e7fc8f5a6d79f6ea50e21e
-  languageName: node
-  linkType: hard
-
 "reselect@npm:^4.1.8":
   version: 4.1.8
   resolution: "reselect@npm:4.1.8"