This document summarizes new features in PHP 5.4 including array dereferencing without extracting values to temporary variables, short echo and array syntax, binary number formats, class member access on instantiation, JSON serialization helpers, native session handler interfaces, objects as functions using __invoke, callable type hints, $this in anonymous functions, and an initialized high precision timer. It also discusses traits for multiple inheritance, the "use" operator, a built-in CLI web server, and performance improvements in PHP 5.4.