diff --git a/charts/argo-workflows/Chart.yaml b/charts/argo-workflows/Chart.yaml
index e15f79c3..6223ffc6 100644
--- a/charts/argo-workflows/Chart.yaml
+++ b/charts/argo-workflows/Chart.yaml
@@ -3,7 +3,7 @@ appVersion: v3.5.5
 name: argo-workflows
 description: A Helm chart for Argo Workflows
 type: application
-version: 0.40.15
+version: 0.41.0
 icon: https://argo-workflows.readthedocs.io/en/stable/assets/logo.png
 home: https://github.com/argoproj/argo-helm
 sources:
diff --git a/charts/argo-workflows/README.md b/charts/argo-workflows/README.md
index 8b9c78ec..3a387546 100644
--- a/charts/argo-workflows/README.md
+++ b/charts/argo-workflows/README.md
@@ -111,6 +111,7 @@ Fields to note:
 |-----|------|---------|-------------|
 | apiVersionOverrides.autoscaling | string | `""` | String to override apiVersion of autoscaling rendered by this helm chart |
 | apiVersionOverrides.cloudgoogle | string | `""` | String to override apiVersion of GKE resources rendered by this helm chart |
+| apiVersionOverrides.monitoring | string | `""` | String to override apiVersion of monitoring CRDs (ServiceMonitor) rendered by this helm chart |
 | commonLabels | object | `{}` | Labels to set on all resources |
 | crds.annotations | object | `{}` | Annotations to be added to all CRDs |
 | crds.install | bool | `true` | Install and upgrade CRDs |
@@ -212,7 +213,6 @@ Fields to note:
 | controller.serviceAnnotations | object | `{}` | Annotations to be applied to the controller Service |
 | controller.serviceLabels | object | `{}` | Optional labels to add to the controller Service |
 | controller.serviceMonitor.additionalLabels | object | `{}` | Prometheus ServiceMonitor labels |
-| controller.serviceMonitor.apiVersion | string | `"monitoring.coreos.com/v1"` | ApiVersion for the serviceMonitor resource |
 | controller.serviceMonitor.enabled | bool | `false` | Enable a prometheus ServiceMonitor |
 | controller.serviceMonitor.namespace | string | `""` | Prometheus ServiceMonitor namespace |
 | controller.serviceType | string | `"ClusterIP"` | Service type of the controller Service |
diff --git a/charts/argo-workflows/templates/_helpers.tpl b/charts/argo-workflows/templates/_helpers.tpl
index 118f9a52..f46af22f 100644
--- a/charts/argo-workflows/templates/_helpers.tpl
+++ b/charts/argo-workflows/templates/_helpers.tpl
@@ -190,6 +190,17 @@ Return the appropriate apiVersion for GKE resources
 {{- end -}}
 {{- end -}}
 
+{{/*
+Return the appropriate apiVersion for monitoring CRDs
+*/}}
+{{- define "argo-workflows.apiVersions.monitoring" -}}
+{{- if .Values.apiVersionOverrides.monitoring -}}
+{{- print .Values.apiVersionOverrides.monitoring -}}
+{{- else -}}
+{{- print "monitoring.coreos.com/v1" -}}
+{{- end -}}
+{{- end -}}
+
 {{/*
 Expand the namespace of the release.
 Allows overriding it for multi-namespace deployments in combined charts.
diff --git a/charts/argo-workflows/templates/controller/workflow-controller-servicemonitor.yaml b/charts/argo-workflows/templates/controller/workflow-controller-servicemonitor.yaml
index d0b773ec..1695f96d 100644
--- a/charts/argo-workflows/templates/controller/workflow-controller-servicemonitor.yaml
+++ b/charts/argo-workflows/templates/controller/workflow-controller-servicemonitor.yaml
@@ -1,7 +1,6 @@
-{{- if and (or .Values.controller.metricsConfig.enabled .Values.controller.telemetryConfig.enabled) .Values.controller.serviceMonitor.enabled }}
-{{- $prometheusApiVersion := .Values.controller.serviceMonitor.apiVersion -}}
-{{- if .Capabilities.APIVersions.Has $prometheusApiVersion }}
-apiVersion: {{ $prometheusApiVersion }}
+{{- $apiVersion := include "argo-workflows.apiVersions.monitoring" . }}
+{{- if and (.Capabilities.APIVersions.Has $apiVersion) (or .Values.controller.metricsConfig.enabled .Values.controller.telemetryConfig.enabled) .Values.controller.serviceMonitor.enabled }}
+apiVersion: {{ $apiVersion }}
 kind: ServiceMonitor
 metadata:
   name: {{ template "argo-workflows.controller.fullname" . }}
@@ -50,4 +49,3 @@ spec:
     matchLabels:
       {{- include "argo-workflows.selectorLabels" (dict "context" . "name" .Values.controller.name) | nindent 6 }}
 {{- end }}
-{{- end }}
diff --git a/charts/argo-workflows/values.yaml b/charts/argo-workflows/values.yaml
index aaf5d86e..3c361c9c 100644
--- a/charts/argo-workflows/values.yaml
+++ b/charts/argo-workflows/values.yaml
@@ -42,6 +42,8 @@ apiVersionOverrides:
   autoscaling: "" # autoscaling/v2
   # -- String to override apiVersion of GKE resources rendered by this helm chart
   cloudgoogle: "" # cloud.google.com/v1
+  # -- String to override apiVersion of monitoring CRDs (ServiceMonitor) rendered by this helm chart
+  monitoring: "" # monitoring.coreos.com/v1
 
 # -- Restrict Argo to operate only in a single namespace (the namespace of the
 # Helm release) by apply Roles and RoleBindings instead of the Cluster
@@ -240,8 +242,6 @@ controller:
     additionalLabels: {}
     # -- Prometheus ServiceMonitor namespace
     namespace: "" # "monitoring"
-    # -- ApiVersion for the serviceMonitor resource
-    apiVersion: monitoring.coreos.com/v1
   serviceAccount:
     # -- Create a service account for the controller
     create: true