NC 54 is a North Carolina state highway and a semi-urban traffic artery connecting Raleigh to its western suburbs, and extending outward to Burlington.

54 east begins in western Burlington at the intersection of US 70/NC 62/Church Street and South O'Neal Street. 54 east runs on O'neal Street for less than 500 yards before turning left on Chapel Hill Road.

54 follows Chapel Hill Road to the intersection of NC 49/100/Maple Avenue in downtown Graham. 54 joins 49 north on Harden Street through downtown. 54/49 continues eastward and intersects with NC 87, marking a stretch of 49 north, 54 east and 87 south all along Harden Street (which actually runs east-west). 87 turns off at Main Street in downtown Graham and 49 exits at Elm Street. It's at this point that 54 begins its turn southeast and crosses Interstates 40/85 (exit 148). 54 remains on Harden Street until it crosses the Haw River, and is known from that point as NC 54.

54 heads southeast to Carrboro where it becomes the Fordham Blvd bypass, a divided highway that runs through the south side of Carrboro and Chapel Hill. At Pittsboro Road US 15/501 joins 54/Fordham Blvd and the highway begins to turn northbound to head toward Durham. 54 exits on Raleigh Road and then Nelson-Chapel Hill Highway, a divided major highway connecting Fordham Blvd and Interstate 40. 54 hits I-40 at exit 273 and continues east, crossing NC 751 and heading into Durham.

54 enters the Research Triangle Park and intersects with NC 55 before crossing over the Durham Freeway (NC 147) and intersecting with South Miami Blvd, where 54 turns right and starts to head toward Morrisville. When 54 enters Wake County it is once again on Chapel Hill Road and crosses NC 540 at exit 69.

54 travels through Morrisville and heads into Cary, where it crosses the Cary Parkway and then exits onto the northern portion of the Maynard Road loop around Cary. It then turns left back onto Chapel Hill Road in the eastern portion of Cary and hits I-40 for the last time at exit 290 in Cary. 54 continues toward Raleigh and intersects with Hillsborough Street before ending at exit 4 of the Cliff Benson Beltline, which carries Interstate 440 and US 1. NC 54's eastern terminus is at US 1/I-440, at the Hillsborough Street (exit 3) in western Raleigh, North Carolina. This used to be the junction for US 64 in the 1990s before that highway was rerouted along I-40. NC 54 westbound ends at US 70/NC 62 in Burlington, North Carolina.

The route is a fairly major road in the Triangle area, and runs over several local important streets:

The route also runs through the Piedmont Triad region, but it is not usually considered a major road there. A notable fact is that NC 54 crosses I-40 four times, more than most nearby routes.

Significant attractions along NC 54 include the Dean Dome in Chapel Hill and the NC State Fairgrounds in Raleigh. NC 54 runs near UNC Chapel Hill; Meredith College, the NC State Veterinary School, Carter-Finley Stadium, and the RBC Center lie near the route's junction with I-440 (exit 3). The North Carolina State University North Campus and the university's Memorial Bell Tower is located near its eastern terminus. NC 54/Hillsborough Street just inside the beltline is adorned with numerous businesses targeted at college students; there are several bookstores, coffee shops, and small restaurants along this stretch of road. NC 54 also runs through a section of Research Triangle Park.

The current NC 54 was the first paved road in North Carolina, and was once designated as U.S. 70.

The original routing (1929) of NC 54 mostly followed today's route, but was shorter. It originally ran from Chapel Hill to Nelson and was extended west to Graham in the 1930s. It was extended east to Raleigh along the former U.S. 70-A when it was decommissioned in the 1950s.

U.S. 1 occupied the section of Hillsborough Street from the I-440 beltline to downtown Raleigh in the 1950s and 1960s and U.S. 1 Business occupied it in the 1980s. A project is currently underway to construct traffic circles along this section of Hillsborough Street inside the beltline in an effort to persuade travelers to take nearby parallel route Western Boulevard in and out of downtown Raleigh.

In 1997, NC 54 through central Cary was rerouted from Chapel Hill Road to the northern section of Maynard Road to avoid the downtown area. Maynard Road is a loop road that encircles downtown Cary.