MERRA-2 Stratospheric Composition Reanalysis of Aura Microwave Limb Sounder (M2-SCREAM) is a new reanalysis of stratospheric ozone, water vapor, hydrogen chloride (HCl), nitric acid (HNO₃) and nitrous oxide (N₂O) between 2004 and the present (with a latency of several months). The assimilated fields are provided at a 50-km horizontal resolution and at a three-hourly frequency. M2-SCREAM assimilates version 4.2 Microwave Limb Sounder (MLS) profiles of the five constituents alongside total ozone column from the Ozone Monitoring Instrument. Dynamics and tropospheric water vapor are constrained by the MERRA-2 reanalysis. The assimilated species are in excellent agreement with the MLS observations, except for HNO₃ in polar night, where data are not assimilated. Comparisons against independent observations show that the reanalysis realistically captures the spatial and temporal variability of all the assimilated constituents. In particular, the standard deviations of the differences between M2-SCREAM and constituent mixing ratio data from The Atmospheric Chemistry Experiment Fourier Transform Spectrometer are much smaller than the standard deviations of the measured constituents. Evaluation of the reanalysis against aircraft data and balloon-borne frost point hygrometers indicates a faithful representation of small-scale structures in the assimilated water vapor, HNO₃ and ozone fields near the tropopause. Comparisons with independent observations and a process-based analysis of the consistency of the assimilated constituent fields with the MERRA-2 dynamics and with large-scale stratospheric processes demonstrate the utility of M2-SCREAM for scientific studies of chemical and transport variability on time scales ranging from hours to decades. Analysis uncertainties and guidelines for data usage are provided.