diff --git a/packages/components/CHANGELOG.md b/packages/components/CHANGELOG.md
index c97e25862addec..357427f8f3443c 100644
--- a/packages/components/CHANGELOG.md
+++ b/packages/components/CHANGELOG.md
@@ -69,6 +69,7 @@
 -   `Composite` v2: add `Hover` and `Typeahead` subcomponents ([#64399](https://github.com/WordPress/gutenberg/pull/64399)).
 -   `Composite` v2: add focus-related props to `Composite`and`Composite.Item` subcomponents ([#64450](https://github.com/WordPress/gutenberg/pull/64450)).
 -   `Composite` v2: add `Context` subcomponent ([#64493](https://github.com/WordPress/gutenberg/pull/64493)).
+-   `DropdownMenu` v2: use themed color variables ([#64647](https://github.com/WordPress/gutenberg/pull/64647)).
 -   `CustomSelectControl`: Improve type inferring ([#64412](https://github.com/WordPress/gutenberg/pull/64412)).
 -   Update `ariakit` to version `0.4.10` ([#64637](https://github.com/WordPress/gutenberg/pull/64637)).
 
diff --git a/packages/components/src/dropdown-menu-v2/styles.ts b/packages/components/src/dropdown-menu-v2/styles.ts
index 3260a83f45f1c1..9e71316b6b9dc5 100644
--- a/packages/components/src/dropdown-menu-v2/styles.ts
+++ b/packages/components/src/dropdown-menu-v2/styles.ts
@@ -25,12 +25,14 @@ const ITEM_PADDING_BLOCK = space( 2 );
 const ITEM_PADDING_INLINE = space( 3 );
 
 // TODO:
-// - those values are different from saved variables?
-// - should bring this into the config, and make themeable
-// - border color and divider color are different?
-const DEFAULT_BORDER_COLOR = COLORS.gray[ 300 ];
-const DIVIDER_COLOR = COLORS.gray[ 200 ];
-const TOOLBAR_VARIANT_BORDER_COLOR = COLORS.gray[ '900' ];
+// - border color and divider color are different from COLORS.theme variables
+// - lighter text color is not defined in COLORS.theme, should it be?
+// - lighter background color is not defined in COLORS.theme, should it be?
+const DEFAULT_BORDER_COLOR = COLORS.theme.gray[ 300 ];
+const DIVIDER_COLOR = COLORS.theme.gray[ 200 ];
+const LIGHTER_TEXT_COLOR = COLORS.theme.gray[ 700 ];
+const LIGHT_BACKGROUND_COLOR = COLORS.theme.gray[ 100 ];
+const TOOLBAR_VARIANT_BORDER_COLOR = COLORS.theme.foreground;
 const DEFAULT_BOX_SHADOW = `0 0 0 ${ CONFIG.borderWidth } ${ DEFAULT_BORDER_COLOR }, ${ CONFIG.elevationXSmall }`;
 const TOOLBAR_VARIANT_BOX_SHADOW = `0 0 0 ${ CONFIG.borderWidth } ${ TOOLBAR_VARIANT_BORDER_COLOR }`;
 
@@ -149,7 +151,7 @@ const baseItem = css`
 	font-weight: normal;
 	line-height: 20px;
 
-	color: ${ COLORS.gray[ 900 ] };
+	color: ${ COLORS.theme.foreground };
 	border-radius: ${ CONFIG.radiusSmall };
 
 	padding-block: ${ ITEM_PADDING_BLOCK };
@@ -193,8 +195,8 @@ const baseItem = css`
 
 	/* When the item is the trigger of an open submenu */
 	${ DropdownMenu }:not(:focus) &:not(:focus)[aria-expanded="true"] {
-		background-color: ${ COLORS.gray[ 100 ] };
-		color: ${ COLORS.gray[ 900 ] };
+		background-color: ${ LIGHT_BACKGROUND_COLOR };
+		color: ${ COLORS.theme.foreground };
 	}
 
 	svg {
@@ -238,7 +240,7 @@ export const ItemPrefixWrapper = styled.span`
 	align-items: center;
 	justify-content: center;
 
-	color: ${ COLORS.gray[ '700' ] };
+	color: ${ LIGHTER_TEXT_COLOR };
 
 	/*
 	* When the parent menu item is active, except when it's a non-focused/hovered
@@ -284,7 +286,7 @@ export const ItemSuffixWrapper = styled.span`
 	justify-content: center;
 	gap: ${ space( 3 ) };
 
-	color: ${ COLORS.gray[ '700' ] };
+	color: ${ LIGHTER_TEXT_COLOR };
 
 	/*
 	 * When the parent menu item is active, except when it's a non-focused/hovered
@@ -343,7 +345,7 @@ export const DropdownMenuItemLabel = styled( Truncate )`
 export const DropdownMenuItemHelpText = styled( Truncate )`
 	font-size: ${ font( 'helpText.fontSize' ) };
 	line-height: 16px;
-	color: ${ COLORS.gray[ '700' ] };
+	color: ${ LIGHTER_TEXT_COLOR };
 	word-break: break-all;
 
 	[data-active-item]:not( [data-focus-visible] ) *:not( ${ DropdownMenu } ) &,