diff --git a/.changeset/slimy-mice-visit.md b/.changeset/slimy-mice-visit.md
new file mode 100644
index 0000000000..349b0ee53f
--- /dev/null
+++ b/.changeset/slimy-mice-visit.md
@@ -0,0 +1,5 @@
+---
+'@leafygreen-ui/tokens': minor
+---
+
+Updated placeholder color tokens to increase color contrast and improve accessibility
diff --git a/packages/tokens/src/color/darkModeColors.ts b/packages/tokens/src/color/darkModeColors.ts
index 6934c3cdfb..138f1147db 100644
--- a/packages/tokens/src/color/darkModeColors.ts
+++ b/packages/tokens/src/color/darkModeColors.ts
@@ -145,9 +145,9 @@ const darkModeTextColors = {
     [InteractionState.Focus]: blue.light3,
   },
   [Variant.Placeholder]: {
-    [InteractionState.Default]: gray.dark1,
-    [InteractionState.Hover]: gray.dark1,
-    [InteractionState.Focus]: gray.dark1,
+    [InteractionState.Default]: gray.light1,
+    [InteractionState.Hover]: gray.light1,
+    [InteractionState.Focus]: gray.light1,
   },
   [Variant.Secondary]: {
     [InteractionState.Default]: gray.light1,
diff --git a/packages/tokens/src/color/lightModeColors.ts b/packages/tokens/src/color/lightModeColors.ts
index 3167f4d2ff..566deccc84 100644
--- a/packages/tokens/src/color/lightModeColors.ts
+++ b/packages/tokens/src/color/lightModeColors.ts
@@ -175,9 +175,9 @@ const lightModeTextColors = {
     [InteractionState.Focus]: red.base,
   },
   [Variant.Placeholder]: {
-    [InteractionState.Default]: gray.base,
-    [InteractionState.Hover]: gray.base,
-    [InteractionState.Focus]: gray.base,
+    [InteractionState.Default]: gray.dark1,
+    [InteractionState.Hover]: gray.dark1,
+    [InteractionState.Focus]: gray.dark1,
   },
   [Variant.OnSuccess]: {
     [InteractionState.Default]: green.dark2,