diff --git a/CHANGELOG.md b/CHANGELOG.md
index 6b8a610a50..ecb9789788 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -10,12 +10,14 @@ This change log adheres to standards from [Keep a CHANGELOG](https://keepachange
 
 ### Fixed
 * [`jsx-no-literals`]: properly error on children with noAttributeStrings: true ([#3317][] @TildaDares)
-* [`jsx-key`]: catch key errors inside conditional statements ([#3320][] @TildaDates)
+* [`jsx-key`]: catch key errors inside conditional statements ([#3320][] @TildaDares)
+* [`display-name`]: Accept forwardRef and Memo nesting in newer React versions ([#3321][] @TildaDares)
 
 ### Changed
 * [Refactor] [`jsx-indent-props`]: improved readability of the checkNodesIndent function ([#3315][] @caroline223)
 * [Tests] [`jsx-indent`], [`jsx-one-expression-per-line`]: add passing test cases ([#3314][] @ROSSROSALES)
 
+[#3321]: https://github.com/jsx-eslint/eslint-plugin-react/pull/3321
 [#3320]: https://github.com/jsx-eslint/eslint-plugin-react/pull/3320
 [#3317]: https://github.com/jsx-eslint/eslint-plugin-react/pull/3317
 [#3315]: https://github.com/jsx-eslint/eslint-plugin-react/pull/3315
diff --git a/lib/rules/display-name.js b/lib/rules/display-name.js
index a99aabceee..c07f9255b4 100644
--- a/lib/rules/display-name.js
+++ b/lib/rules/display-name.js
@@ -11,6 +11,7 @@ const Components = require('../util/Components');
 const astUtil = require('../util/ast');
 const componentUtil = require('../util/componentUtil');
 const docsUrl = require('../util/docsUrl');
+const testReactVersion = require('../util/version').testReactVersion;
 const propsUtil = require('../util/props');
 const report = require('../util/report');
 
@@ -58,11 +59,29 @@ module.exports = {
       });
     }
 
+    /**
+     * Checks if React.forwardRef is nested inside React.memo
+     * @param {ASTNode} node The AST node being checked.
+     * @returns {Boolean} True if React.forwardRef is nested inside React.memo, false if not.
+     */
+    function isNestedMemo(node) {
+      const argumentIsCallExpression = node.arguments && node.arguments[0] && node.arguments[0].type === 'CallExpression';
+
+      return node.type === 'CallExpression' && argumentIsCallExpression && utils.isPragmaComponentWrapper(node);
+    }
+
     /**
      * Reports missing display name for a given component
      * @param {Object} component The component to process
      */
     function reportMissingDisplayName(component) {
+      if (
+        testReactVersion(context, '^0.14.10 || ^15.7.0 || >= 16.12.0')
+        && isNestedMemo(component.node)
+      ) {
+        return;
+      }
+
       report(context, messages.noDisplayName, 'noDisplayName', {
         node: component.node,
       });
diff --git a/tests/lib/rules/display-name.js b/tests/lib/rules/display-name.js
index 85e076d4d1..445add83a5 100644
--- a/tests/lib/rules/display-name.js
+++ b/tests/lib/rules/display-name.js
@@ -601,6 +601,94 @@ ruleTester.run('display-name', rule, {
         )
       `,
     },
+    {
+      // Nested React.forwardRef should be accepted in React versions in the following range:
+      // ^0.14.10 || ^15.7.0 || >= 16.12.0
+      code: `
+        import React from 'react'
+
+        const MemoizedForwardRefComponentLike = React.memo(
+          React.forwardRef(function({ world }, ref) {
+            return <div ref={ref}>Hello {world}</div>
+        })
+        )
+      `,
+      settings: {
+        react: {
+          version: '16.14.0',
+        },
+      },
+    },
+    {
+      // Nested React.forwardRef should be accepted in React versions in the following range:
+      // ^0.14.10 || ^15.7.0 || >= 16.12.0
+      code: `
+        import React from 'react'
+
+        const MemoizedForwardRefComponentLike = React.memo(
+          React.forwardRef(({ world }, ref) => {
+            return <div ref={ref}>Hello {world}</div>
+          })
+        )
+      `,
+      settings: {
+        react: {
+          version: '15.7.0',
+        },
+      },
+    },
+    {
+      // Nested React.forwardRef should be accepted in React versions in the following range:
+      // ^0.14.10 || ^15.7.0 || >= 16.12.0
+      code: `
+        import React from 'react'
+
+        const MemoizedForwardRefComponentLike = React.memo(
+          React.forwardRef(function ComponentLike({ world }, ref) {
+            return <div ref={ref}>Hello {world}</div>
+          })
+        )
+      `,
+      settings: {
+        react: {
+          version: '16.12.1',
+        },
+      },
+    },
+    {
+      // Nested React.forwardRef should be accepted in React versions in the following range:
+      // ^0.14.10 || ^15.7.0 || >= 16.12.0
+      code: `
+        export const ComponentWithForwardRef = React.memo(
+          React.forwardRef(function Component({ world }) {
+            return <div>Hello {world}</div>
+          })
+        )
+      `,
+      settings: {
+        react: {
+          version: '0.14.11',
+        },
+      },
+    },
+    {
+      // Nested React.forwardRef should be accepted in React versions in the following range:
+      // ^0.14.10 || ^15.7.0 || >= 16.12.0
+      code: `
+        import React from 'react'
+
+        const MemoizedForwardRefComponentLike = React.memo(
+          React.forwardRef(function({ world }, ref) {
+            return <div ref={ref}>Hello {world}</div>
+          })
+        )
+      `,
+      settings: {
+        react: {
+          version: '15.7.1',
+        },
+      },
+    },
   ]),
 
   invalid: parsers.all([
@@ -823,7 +911,9 @@ ruleTester.run('display-name', rule, {
       errors: [{ messageId: 'noDisplayName' }],
     },
     {
-    // Only trigger an error for the outer React.memo
+    // Only trigger an error for the outer React.memo,
+    // if the React version is not in the following range:
+    // ^0.14.10 || ^15.7.0 || >= 16.12.0
       code: `
         import React from 'react'
 
@@ -837,19 +927,31 @@ ruleTester.run('display-name', rule, {
         {
           messageId: 'noDisplayName',
         }],
+      settings: {
+        react: {
+          version: '15.6.0',
+        },
+      },
     },
     {
-    // Only trigger an error for the outer React.memo
+    // Only trigger an error for the outer React.memo,
+    // if the React version is not in the following range:
+    // ^0.14.10 || ^15.7.0 || >= ^16.12.0
       code: `
         import React from 'react'
 
         const MemoizedForwardRefComponentLike = React.memo(
           React.forwardRef(function({ world }, ref) {
             return <div ref={ref}>Hello {world}</div>
-        })
+          })
         )
       `,
       errors: [{ messageId: 'noDisplayName' }],
+      settings: {
+        react: {
+          version: '0.14.2',
+        },
+      },
     },
     {
     // React does not handle the result of forwardRef being passed into memo
@@ -865,6 +967,11 @@ ruleTester.run('display-name', rule, {
         )
       `,
       errors: [{ messageId: 'noDisplayName' }],
+      settings: {
+        react: {
+          version: '15.0.1',
+        },
+      },
     },
     {
       code: `