diff --git a/charts/argo-workflows/Chart.yaml b/charts/argo-workflows/Chart.yaml
index 8b242c4fb..30ff622d9 100644
--- a/charts/argo-workflows/Chart.yaml
+++ b/charts/argo-workflows/Chart.yaml
@@ -3,7 +3,7 @@ appVersion: v3.5.10
 name: argo-workflows
 description: A Helm chart for Argo Workflows
 type: application
-version: 0.42.1
+version: 0.42.2
 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: changed
-      description: add loadBalancerClass field for Service resources
+      description: add honorLabels config for ServiceMonitor resource
diff --git a/charts/argo-workflows/README.md b/charts/argo-workflows/README.md
index deec1649b..43e866778 100644
--- a/charts/argo-workflows/README.md
+++ b/charts/argo-workflows/README.md
@@ -175,6 +175,7 @@ Fields to note:
 | controller.logging.level | string | `"info"` | Set the logging level (one of: `debug`, `info`, `warn`, `error`) |
 | controller.metricsConfig.enabled | bool | `false` | Enables prometheus metrics server |
 | controller.metricsConfig.headlessService | bool | `false` | Flag to enable headless service |
+| controller.metricsConfig.honorLabels | bool | `false` | When true, honorLabels preserves the metric’s labels when they collide with the target’s labels. |
 | controller.metricsConfig.ignoreErrors | bool | `false` | Flag that instructs prometheus to ignore metric emission errors. |
 | controller.metricsConfig.metricRelabelings | list | `[]` | ServiceMonitor metric relabel configs to apply to samples before ingestion |
 | controller.metricsConfig.metricsTTL | string | `""` | How often custom metrics are cleared from memory |
diff --git a/charts/argo-workflows/templates/controller/workflow-controller-servicemonitor.yaml b/charts/argo-workflows/templates/controller/workflow-controller-servicemonitor.yaml
index 1695f96db..01844a876 100644
--- a/charts/argo-workflows/templates/controller/workflow-controller-servicemonitor.yaml
+++ b/charts/argo-workflows/templates/controller/workflow-controller-servicemonitor.yaml
@@ -24,6 +24,7 @@ spec:
       metricRelabelings:
         {{- toYaml . | nindent 8 }}
       {{- end }}
+      honorLabels: {{ .Values.controller.metricsConfig.honorLabels }}
   {{- end }}
   {{- if .Values.controller.telemetryConfig.enabled }}
     - port: telemetry
@@ -37,6 +38,7 @@ spec:
       metricRelabelings:
         {{- toYaml . | nindent 8 }}
       {{- end }}
+      honorLabels: {{ .Values.controller.metricsConfig.honorLabels }}
   {{- end }}
   {{- with .Values.controller.metricsConfig.targetLabels }}
   targetLabels:
diff --git a/charts/argo-workflows/values.yaml b/charts/argo-workflows/values.yaml
index 5c2a674d3..aa6e86b17 100644
--- a/charts/argo-workflows/values.yaml
+++ b/charts/argo-workflows/values.yaml
@@ -143,6 +143,9 @@ controller:
     servicePortName: metrics
     # -- Flag to enable headless service
     headlessService: false
+    # -- When true, honorLabels preserves the metric’s labels when they collide with the target’s labels.
+    ## Ref: https://github.com/prometheus-operator/prometheus-operator/blob/main/Documentation/api.md#honorlabels
+    honorLabels: false
     # -- ServiceMonitor relabel configs to apply to samples before scraping
     ## Ref: https://github.com/prometheus-operator/prometheus-operator/blob/main/Documentation/api.md#relabelconfig
     relabelings: []