diff --git a/charts/argo-workflows/Chart.yaml b/charts/argo-workflows/Chart.yaml
index 99b190bc..e15f79c3 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: 0.40.14
+version: 0.40.15
 icon: https://argo-workflows.readthedocs.io/en/stable/assets/logo.png
 home: https://github.com/argoproj/argo-helm
 sources:
@@ -17,4 +17,4 @@ annotations:
     url: https://argoproj.github.io/argo-helm/pgp_keys.asc
   artifacthub.io/changes: |
     - kind: added
-      description: Support namespaceOverride
+      description: Check Prometheus CRDs are available before creating Service Monitor resource(s)
diff --git a/charts/argo-workflows/README.md b/charts/argo-workflows/README.md
index 785bf9f8..8b9c78ec 100644
--- a/charts/argo-workflows/README.md
+++ b/charts/argo-workflows/README.md
@@ -212,6 +212,7 @@ 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/controller/workflow-controller-servicemonitor.yaml b/charts/argo-workflows/templates/controller/workflow-controller-servicemonitor.yaml
index df318fc2..d0b773ec 100644
--- a/charts/argo-workflows/templates/controller/workflow-controller-servicemonitor.yaml
+++ b/charts/argo-workflows/templates/controller/workflow-controller-servicemonitor.yaml
@@ -1,5 +1,7 @@
 {{- if and (or .Values.controller.metricsConfig.enabled .Values.controller.telemetryConfig.enabled) .Values.controller.serviceMonitor.enabled }}
-apiVersion: monitoring.coreos.com/v1
+{{- $prometheusApiVersion := .Values.controller.serviceMonitor.apiVersion -}}
+{{- if .Capabilities.APIVersions.Has $prometheusApiVersion }}
+apiVersion: {{ $prometheusApiVersion }}
 kind: ServiceMonitor
 metadata:
   name: {{ template "argo-workflows.controller.fullname" . }}
@@ -48,3 +50,4 @@ 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 0f2d6ca7..aaf5d86e 100644
--- a/charts/argo-workflows/values.yaml
+++ b/charts/argo-workflows/values.yaml
@@ -240,6 +240,8 @@ 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