diff --git a/charts/opensearch-dashboards/Chart.yaml b/charts/opensearch-dashboards/Chart.yaml
index 89a75405..0656aab5 100644
--- a/charts/opensearch-dashboards/Chart.yaml
+++ b/charts/opensearch-dashboards/Chart.yaml
@@ -15,7 +15,7 @@ type: application
 # This is the chart version. This version number should be incremented each time you make changes
 # to the chart and its templates, including the app version.
 # Versions are expected to follow Semantic Versioning (https://semver.org/)
-version: 2.21.1
+version: 2.22.0
 
 # This is the version number of the application being deployed. This version number should be
 # incremented each time you make changes to the application. Versions are not expected to
diff --git a/charts/opensearch-dashboards/templates/serviceMonitor.yaml b/charts/opensearch-dashboards/templates/serviceMonitor.yaml
index 1f1a2111..ae92805a 100644
--- a/charts/opensearch-dashboards/templates/serviceMonitor.yaml
+++ b/charts/opensearch-dashboards/templates/serviceMonitor.yaml
@@ -6,6 +6,9 @@ metadata:
   namespace: {{ .Release.Namespace }}
   labels:
     {{- include "opensearch-dashboards.labels" . | nindent 4 }}
+    {{- with .Values.serviceMonitor.labels }}
+      {{- toYaml . | nindent 4 }}
+    {{- end }}
 spec:
   selector:
     matchLabels:
diff --git a/charts/opensearch-dashboards/values.yaml b/charts/opensearch-dashboards/values.yaml
index da2494d3..c2df2577 100644
--- a/charts/opensearch-dashboards/values.yaml
+++ b/charts/opensearch-dashboards/values.yaml
@@ -292,3 +292,6 @@ serviceMonitor:
   # Frequency at which Prometheus will scrape metrics.
   # Modify as needed for your monitoring requirements.
   interval: 10s
+
+  # additional labels to be added to the ServiceMonitor
+  labels: {}
diff --git a/charts/opensearch/Chart.yaml b/charts/opensearch/Chart.yaml
index ba7c8342..66879da1 100644
--- a/charts/opensearch/Chart.yaml
+++ b/charts/opensearch/Chart.yaml
@@ -15,7 +15,7 @@ type: application
 # This is the chart version. This version number should be incremented each time you make changes
 # to the chart and its templates, including the app version.
 # Versions are expected to follow Semantic Versioning (https://semver.org/)
-version: 2.23.1
+version: 2.24.0
 
 # This is the version number of the application being deployed. This version number should be
 # incremented each time you make changes to the application. Versions are not expected to
diff --git a/charts/opensearch/templates/serviceMonitor.yaml b/charts/opensearch/templates/serviceMonitor.yaml
index 46b324e5..79837932 100644
--- a/charts/opensearch/templates/serviceMonitor.yaml
+++ b/charts/opensearch/templates/serviceMonitor.yaml
@@ -6,6 +6,9 @@ metadata:
   namespace: {{ .Release.Namespace }}
   labels:
     {{- include "opensearch.labels" . | nindent 4 }}
+    {{- with .Values.serviceMonitor.labels }}
+      {{- toYaml . | nindent 4 }}
+    {{- end }}
 spec:
   selector:
     matchLabels:
diff --git a/charts/opensearch/values.yaml b/charts/opensearch/values.yaml
index ec8d4578..36fe2acc 100644
--- a/charts/opensearch/values.yaml
+++ b/charts/opensearch/values.yaml
@@ -543,3 +543,6 @@ serviceMonitor:
   # Frequency at which Prometheus will scrape metrics.
   # Adjust based on your needs.
   interval: 10s
+
+  # additional labels to be added to the ServiceMonitor
+  labels: {}