diff --git a/config/core/300-resources/configuration.yaml b/config/core/300-resources/configuration.yaml
index 2c43aaa5753f..65bf809eb612 100644
--- a/config/core/300-resources/configuration.yaml
+++ b/config/core/300-resources/configuration.yaml
@@ -734,6 +734,13 @@ spec:
                                           description: Capability represent POSIX capabilities type
                                           type: string
                                         x-kubernetes-list-type: atomic
+                                  privileged:
+                                    description: |-
+                                      Run container in privileged mode.
+                                      Processes in privileged containers are essentially equivalent to root on the host.
+                                      Defaults to false.
+                                      Note that this field cannot be set when spec.os.name is windows.
+                                    type: boolean
                                   readOnlyRootFilesystem:
                                     description: |-
                                       Whether this container has a read-only root filesystem.
diff --git a/config/core/300-resources/revision.yaml b/config/core/300-resources/revision.yaml
index b4651d9bfe53..71bee879eb96 100644
--- a/config/core/300-resources/revision.yaml
+++ b/config/core/300-resources/revision.yaml
@@ -711,6 +711,13 @@ spec:
                                   description: Capability represent POSIX capabilities type
                                   type: string
                                 x-kubernetes-list-type: atomic
+                          privileged:
+                            description: |-
+                              Run container in privileged mode.
+                              Processes in privileged containers are essentially equivalent to root on the host.
+                              Defaults to false.
+                              Note that this field cannot be set when spec.os.name is windows.
+                            type: boolean
                           readOnlyRootFilesystem:
                             description: |-
                               Whether this container has a read-only root filesystem.
diff --git a/config/core/300-resources/service.yaml b/config/core/300-resources/service.yaml
index bd322152cee9..69dbe087012d 100644
--- a/config/core/300-resources/service.yaml
+++ b/config/core/300-resources/service.yaml
@@ -754,6 +754,13 @@ spec:
                                           description: Capability represent POSIX capabilities type
                                           type: string
                                         x-kubernetes-list-type: atomic
+                                  privileged:
+                                    description: |-
+                                      Run container in privileged mode.
+                                      Processes in privileged containers are essentially equivalent to root on the host.
+                                      Defaults to false.
+                                      Note that this field cannot be set when spec.os.name is windows.
+                                    type: boolean
                                   readOnlyRootFilesystem:
                                     description: |-
                                       Whether this container has a read-only root filesystem.
diff --git a/hack/schemapatch-config.yaml b/hack/schemapatch-config.yaml
index 7656efc9eb0b..abd6846a04e4 100644
--- a/hack/schemapatch-config.yaml
+++ b/hack/schemapatch-config.yaml
@@ -329,6 +329,7 @@ k8s.io/api/core/v1.SecurityContext:
     - RunAsNonRoot
     - RunAsUser
     - SeccompProfile
+    - Privileged
 k8s.io/api/core/v1.Capabilities:
   fieldMask:
     - Add
diff --git a/pkg/apis/serving/fieldmask.go b/pkg/apis/serving/fieldmask.go
index faff5dba9690..ab859740d913 100644
--- a/pkg/apis/serving/fieldmask.go
+++ b/pkg/apis/serving/fieldmask.go
@@ -710,10 +710,12 @@ func SecurityContextMask(ctx context.Context, in *corev1.SecurityContext) *corev
 	// SeccompProfile defaults to "unconstrained", but the safe values are
 	// "RuntimeDefault" or "Localhost" (with localhost path set)
 	out.SeccompProfile = in.SeccompProfile
-
+	// Only allow setting Privileged to false
+	if in.Privileged != nil && !*in.Privileged {
+		out.Privileged = in.Privileged
+	}
 	// Disallowed
 	// This list is unnecessary, but added here for clarity
-	out.Privileged = nil
 	out.SELinuxOptions = nil
 	out.ProcMount = nil
 
diff --git a/pkg/apis/serving/k8s_validation_test.go b/pkg/apis/serving/k8s_validation_test.go
index 892e381f8901..cc12b8457ab6 100644
--- a/pkg/apis/serving/k8s_validation_test.go
+++ b/pkg/apis/serving/k8s_validation_test.go
@@ -2703,6 +2703,15 @@ func getCommonContainerValidationTestCases() []containerValidationTestCase {
 				},
 			},
 			want: apis.ErrDisallowedFields("securityContext.privileged"),
+		}, {
+			name: "allowed setting security context field Privileged to false",
+			c: corev1.Container{
+				Image: "foo",
+				SecurityContext: &corev1.SecurityContext{
+					Privileged: ptr.Bool(false),
+				},
+			},
+			want: nil,
 		}, {
 			name: "too large uid",
 			c: corev1.Container{