A system and method for efficient branch prediction. A processor includes a next fetch predictor to generate a fast branch prediction for branch instructions at an early pipeline stage. The processor also includes a main return address stack (RAS) at a later pipeline stage for predicting the target of return instructions. When a return instruction is encountered, the prediction from the next fetch predictor is replaced by the top of the main RAS. If there are any recent call or return instructions in flight toward the main RAS, then a separate prediction is generated by a mini-RAS.