diff --git a/Changelog.md b/Changelog.md
index ad568e6ae..9e58b2c17 100644
--- a/Changelog.md
+++ b/Changelog.md
@@ -2,6 +2,7 @@
 
 Language Features:
  * Permit calldata location for all variables.
+ * Yul: EVM instruction `pc()` is marked deprecated and will be removed in the next breaking release.
 
 
 Compiler Features:
diff --git a/libsolidity/analysis/SyntaxChecker.cpp b/libsolidity/analysis/SyntaxChecker.cpp
index 86204e88e..267d5764f 100644
--- a/libsolidity/analysis/SyntaxChecker.cpp
+++ b/libsolidity/analysis/SyntaxChecker.cpp
@@ -273,6 +273,7 @@ bool SyntaxChecker::visit(InlineAssembly const& _inlineAssembly)
 			"The msize instruction cannot be used when the Yul optimizer is activated because "
 			"it can change its semantics. Either disable the Yul optimizer or do not use the instruction."
 		);
+
 	return false;
 }
 
diff --git a/libyul/AsmAnalysis.cpp b/libyul/AsmAnalysis.cpp
index 80c90650d..fd8e44dfa 100644
--- a/libyul/AsmAnalysis.cpp
+++ b/libyul/AsmAnalysis.cpp
@@ -73,7 +73,7 @@ AsmAnalysisInfo AsmAnalyzer::analyzeStrictAssertCorrect(Dialect const& _dialect,
 		{},
 		_object.dataNames()
 	).analyze(*_object.code);
-	yulAssert(success && errorList.empty(), "Invalid assembly/yul code.");
+	yulAssert(success && !errors.hasErrors(), "Invalid assembly/yul code.");
 	return analysisInfo;
 }
 
@@ -259,6 +259,8 @@ vector<YulString> AsmAnalyzer::operator()(FunctionCall const& _funCall)
 		returnTypes = &f->returns;
 		if (f->literalArguments)
 			needsLiteralArguments = &f->literalArguments.value();
+
+		warnOnInstructions(_funCall);
 	}
 	else if (!m_currentScope->lookup(_funCall.functionName.name, GenericVisitor{
 		[&](Scope::Variable const&)
@@ -275,10 +277,11 @@ vector<YulString> AsmAnalyzer::operator()(FunctionCall const& _funCall)
 		}
 	}))
 	{
-		if (!warnOnInstructions(_funCall.functionName.name.str(), _funCall.functionName.location))
+		if (!warnOnInstructions(_funCall))
 			declarationError(_funCall.functionName.location, "Function not found.");
 		yulAssert(!watcher.ok(), "Expected a reported error.");
 	}
+
 	if (parameterTypes && _funCall.arguments.size() != parameterTypes->size())
 		typeError(
 			_funCall.functionName.location,
@@ -553,6 +556,14 @@ bool AsmAnalyzer::warnOnInstructions(evmasm::Instruction _instr, SourceLocation
 		errorForVM("only available for Constantinople-compatible");
 	else if (_instr == evmasm::Instruction::CHAINID && !m_evmVersion.hasChainID())
 		errorForVM("only available for Istanbul-compatible");
+	else if (_instr == evmasm::Instruction::PC)
+		m_errorReporter.warning(
+			2450_error,
+			_location,
+			"The \"" +
+			boost::to_lower_copy(instructionInfo(_instr).name) +
+			"\" instruction is deprecated and will be removed in the next breaking release."
+		);
 	else if (_instr == evmasm::Instruction::SELFBALANCE && !m_evmVersion.hasSelfBalance())
 		errorForVM("only available for Istanbul-compatible");
 	else if (
diff --git a/libyul/AsmAnalysis.h b/libyul/AsmAnalysis.h
index bbc37bedb..438c31bbd 100644
--- a/libyul/AsmAnalysis.h
+++ b/libyul/AsmAnalysis.h
@@ -112,6 +112,11 @@ private:
 	bool warnOnInstructions(evmasm::Instruction _instr, langutil::SourceLocation const& _location);
 	bool warnOnInstructions(std::string const& _instrIdentifier, langutil::SourceLocation const& _location);
 
+	bool warnOnInstructions(FunctionCall const& _functionCall)
+	{
+		return warnOnInstructions(_functionCall.functionName.name.str(), _functionCall.functionName.location);
+	}
+
 	void typeError(langutil::SourceLocation const& _location, std::string const& _description);
 	void declarationError(langutil::SourceLocation const& _location, std::string const& _description);
 
diff --git a/libyul/optimiser/Semantics.cpp b/libyul/optimiser/Semantics.cpp
index 1e2dcb104..a6f41b844 100644
--- a/libyul/optimiser/Semantics.cpp
+++ b/libyul/optimiser/Semantics.cpp
@@ -90,7 +90,6 @@ void MSizeFinder::operator()(FunctionCall const& _functionCall)
 			m_msizeFound = true;
 }
 
-
 map<YulString, SideEffects> SideEffectsPropagator::sideEffects(
 	Dialect const& _dialect,
 	CallGraph const& _directCallGraph
diff --git a/test/libsolidity/syntaxTests/inlineAssembly/pc.sol b/test/libsolidity/syntaxTests/inlineAssembly/pc.sol
new file mode 100644
index 000000000..08b023889
--- /dev/null
+++ b/test/libsolidity/syntaxTests/inlineAssembly/pc.sol
@@ -0,0 +1,9 @@
+contract C {
+	function f() pure public {
+		assembly {
+			pop(pc())
+		}
+	}
+}
+// ----
+// Warning: (61-63): The "pc" instruction is deprecated and will be removed in the next breaking release.
diff --git a/test/libyul/ewasmTranslationTests/pc.yul b/test/libyul/ewasmTranslationTests/pc.yul
deleted file mode 100644
index 16d98dec8..000000000
--- a/test/libyul/ewasmTranslationTests/pc.yul
+++ /dev/null
@@ -1,8 +0,0 @@
-{
-  sstore(0, pc())
-}
-// ----
-// Trace:
-//   INVALID()
-// Memory dump:
-// Storage dump:
diff --git a/test/libyul/yulInterpreterTests/side_effect_free.yul b/test/libyul/yulInterpreterTests/side_effect_free.yul
index 8eac1f5a9..1b8107646 100644
--- a/test/libyul/yulInterpreterTests/side_effect_free.yul
+++ b/test/libyul/yulInterpreterTests/side_effect_free.yul
@@ -6,7 +6,6 @@
 	pop(extcodehash(0))
 	pop(returndatasize())
 	pop(sload(0))
-	pop(pc())
 	pop(msize())
 	pop(mload(0))
 	pop(sload(0))
diff --git a/test/libyul/yulOptimizerTests/fullSuite/stack_compressor_msize.yul b/test/libyul/yulOptimizerTests/fullSuite/stack_compressor_msize.yul
index 961abd72c..56a2d6cfe 100644
--- a/test/libyul/yulOptimizerTests/fullSuite/stack_compressor_msize.yul
+++ b/test/libyul/yulOptimizerTests/fullSuite/stack_compressor_msize.yul
@@ -1,10 +1,23 @@
 {
 	let a
 
+	function gcd(_a, _b) -> out
+	{
+		// GCD algorithm. in order to test underlying stack compressor this function must not be inlined.
+		switch _b
+		case 0 { out := _a }
+		default { out := gcd(_b, mod(_a, _b)) }
+	}
+
+	function f() -> out
+	{
+		out := gcd(10, 15)
+	}
+
 	function foo_singlereturn_0() -> out
 	{
-		mstore(lt(or(gt(1,or(or(gt(or(or(or(1,gt(or(gt(or(or(keccak256(pc(),or(gt(not(pc()),1),1)),1),not(1)),pc()),1),pc())),lt(or(1,sub(pc(),1)),1)),pc()),1),1),gt(not(pc()),1))),1),1),1)
-		sstore(not(pc()),1)
+		mstore(lt(or(gt(1,or(or(gt(or(or(or(1,gt(or(gt(or(or(keccak256(f(),or(gt(not(f()),1),1)),1),not(1)),f()),1),f())),lt(or(1,sub(f(),1)),1)),f()),1),1),gt(not(f()),1))),1),1),1)
+		sstore(not(f()),1)
 	}
 
 	function foo_singlereturn_1(in_1, in_2) -> out
@@ -25,21 +38,27 @@
 //
 // {
 //     {
-//         let _1 := gt(not(pc()), 1)
-//         let _2 := pc()
+//         let _1 := gt(not(gcd(10, 15)), 1)
+//         let _2 := gcd(10, 15)
 //         let _3 := not(0)
-//         let _4 := lt(or(1, add(pc(), _3)), 1)
-//         let _5 := pc()
-//         let _6 := pc()
-//         pop(keccak256(pc(), or(gt(not(pc()), 1), 1)))
+//         let _4 := lt(or(1, add(gcd(10, 15), _3)), 1)
+//         let _5 := gcd(10, 15)
+//         let _6 := gcd(10, 15)
+//         pop(keccak256(gcd(10, 15), or(gt(not(gcd(10, 15)), 1), 1)))
 //         mstore(lt(or(gt(1, or(or(gt(or(or(or(gt(or(gt(_3, _6), 1), _5), _4), _2), 1), 1), _1), 1)), 1), 1), 1)
-//         sstore(not(pc()), 1)
+//         sstore(not(gcd(10, 15)), 1)
 //         sstore(0, 0)
 //         sstore(2, 1)
 //         pop(foo_singlereturn_1(calldataload(0), calldataload(3)))
 //         sstore(0, 0)
 //         sstore(3, 1)
 //     }
+//     function gcd(_a, _b) -> out
+//     {
+//         switch _b
+//         case 0 { out := _a }
+//         default { out := gcd(_b, mod(_a, _b)) }
+//     }
 //     function foo_singlereturn_1(in, in_1) -> out
 //     { extcodecopy(1, msize(), 1, 1) }
 // }
diff --git a/test/libyul/yulOptimizerTests/stackCompressor/unusedPrunerWithMSize.yul b/test/libyul/yulOptimizerTests/stackCompressor/unusedPrunerWithMSize.yul
index 279c0d901..7e3acd9b6 100644
--- a/test/libyul/yulOptimizerTests/stackCompressor/unusedPrunerWithMSize.yul
+++ b/test/libyul/yulOptimizerTests/stackCompressor/unusedPrunerWithMSize.yul
@@ -1,11 +1,11 @@
 {
     {
         let _13_71 := 1
-        let _17_72 := pc()
-        let _22_75 := pc()
-        let _25_76 := pc()
-        let _30_80 := pc()
-        let _32_81 := pc()
+        let _17_72 := msize()
+        let _22_75 := msize()
+        let _25_76 := msize()
+        let _30_80 := msize()
+        let _32_81 := msize()
         // This should not be removed
         pop(keccak256(1, 2))
         let _104 := gt(not(_17_72), _13_71)
@@ -22,11 +22,11 @@
 // step: stackCompressor
 //
 // {
-//     let _17_72 := pc()
-//     let _22_75 := pc()
-//     let _25_76 := pc()
-//     let _30_80 := pc()
-//     let _32_81 := pc()
+//     let _17_72 := msize()
+//     let _22_75 := msize()
+//     let _25_76 := msize()
+//     let _30_80 := msize()
+//     let _32_81 := msize()
 //     pop(keccak256(1, 2))
 //     let _105 := 0xffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff
 //     mstore(lt(or(gt(1, or(or(gt(or(or(or(gt(or(gt(_105, _32_81), 1), _30_80), lt(or(1, add(_25_76, _105)), 1)), _22_75), 1), 1), gt(not(_17_72), 1)), 1)), 1), 1), 1)
diff --git a/test/libyul/yulSyntaxTests/pc.yul b/test/libyul/yulSyntaxTests/pc.yul
new file mode 100644
index 000000000..04804f150
--- /dev/null
+++ b/test/libyul/yulSyntaxTests/pc.yul
@@ -0,0 +1,7 @@
+{
+    pop(pc())
+}
+// ====
+// dialect: evmTyped
+// ----
+// Warning: (10-12): The "pc" instruction is deprecated and will be removed in the next breaking release.