diff --git a/runtime/v2/README.md b/runtime/v2/README.md
index f7d506e1d..a71ffa159 100644
--- a/runtime/v2/README.md
+++ b/runtime/v2/README.md
@@ -9,18 +9,18 @@ Users specify the runtime they wish to use when creating a container.
 The runtime can also be changed via a container update.
 
 ```bash
-> ctr run --runtime io.containerd.runc.v1
+> ctr run --runtime io.containerd.runc.v2
 ```
 
-When a user specifies a runtime name, `io.containerd.runc.v1`, they will specify the name and version of the runtime.
+When a user specifies a runtime name, `io.containerd.runc.v2`, they will specify the name and version of the runtime.
 This will be translated by containerd into a binary name for the shim.
 
-`io.containerd.runc.v1` -> `containerd-shim-runc-v1`
+`io.containerd.runc.v2` -> `containerd-shim-runc-v2`
 
 Since 1.6 release, it's also possible to specify absolute runtime path:
 
 ```bash
-> ctr run --runtime /usr/local/bin/containerd-shim-runc-v1
+> ctr run --runtime /usr/local/bin/containerd-shim-runc-v2
 ```
 
 containerd keeps the `containerd-shim-*` prefix so that users can `ps aux | grep containerd-shim` to see running shims on their system.
@@ -218,7 +218,7 @@ sequenceDiagram
 
     %% Start shim
     containerd-->shim: Prepare bundle
-    containerd->>shim: Execute binary: containerd-shim-runc-v1 start
+    containerd->>shim: Execute binary: containerd-shim-runc-v2 start
     shim->shim: Start TTRPC server
     shim-->>containerd: Respond with address: unix://containerd/container.sock
 
@@ -276,7 +276,7 @@ sequenceDiagram
     shim-->>containerd: OK
 
     containerd-->shim: Close client
-    containerd->>shim: Execute binary: containerd-shim-runc-v1 delete
+    containerd->>shim: Execute binary: containerd-shim-runc-v2 delete
     containerd-->shim: Delete bundle
 
     containerd-->>ctr: Exit code
diff --git a/runtime/v2/manager.go b/runtime/v2/manager.go
index 73e1af771..96af52eae 100644
--- a/runtime/v2/manager.go
+++ b/runtime/v2/manager.go
@@ -300,14 +300,14 @@ func (m *ShimManager) resolveRuntimePath(runtime string) (string, error) {
 
 	// Check if relative path to runtime binary provided
 	if strings.Contains(runtime, "/") {
-		return "", fmt.Errorf("invalid runtime name %s, correct runtime name should be either format like `io.containerd.runc.v1` or a full path to the binary", runtime)
+		return "", fmt.Errorf("invalid runtime name %s, correct runtime name should be either format like `io.containerd.runc.v2` or a full path to the binary", runtime)
 	}
 
 	// Preserve existing logic and resolve runtime path from runtime name.
 
 	name := shimbinary.BinaryName(runtime)
 	if name == "" {
-		return "", fmt.Errorf("invalid runtime name %s, correct runtime name should be either format like `io.containerd.runc.v1` or a full path to the binary", runtime)
+		return "", fmt.Errorf("invalid runtime name %s, correct runtime name should be either format like `io.containerd.runc.v2` or a full path to the binary", runtime)
 	}
 
 	if path, ok := m.runtimePaths.Load(name); ok {