diff --git a/deploy/charts/istio-operator/Chart.yaml b/deploy/charts/istio-operator/Chart.yaml
index 74e198be5..99e5c8e1f 100644
--- a/deploy/charts/istio-operator/Chart.yaml
+++ b/deploy/charts/istio-operator/Chart.yaml
@@ -12,4 +12,4 @@ icon: https://istio.io/latest/img/istio-whitelogo-bluebackground-framed.svg
 kubeVersion: ">= 1.19.0-0 < 1.23.0-0"
 
 version: 2.0.7
-appVersion: "v2.11.7"
+appVersion: "v2.11.8"
diff --git a/deploy/charts/istio-operator/README.md b/deploy/charts/istio-operator/README.md
index 8758363fa..a96813183 100644
--- a/deploy/charts/istio-operator/README.md
+++ b/deploy/charts/istio-operator/README.md
@@ -33,7 +33,7 @@ The following table lists the configurable parameters of the Banzaicloud Istio O
 Parameter | Description | Default
 --------- | ----------- | -------
 `image.repository` | Operator container image repository | `ghcr.io/banzaicloud/istio-operator`
-`image.tag` | Operator container image tag | `v2.11.7`
+`image.tag` | Operator container image tag | `v2.11.8`
 `image.pullPolicy` | Operator container image pull policy | `IfNotPresent`
 `replicaCount` | Operator deployment replica count | `1`
 `extraArgs` | Operator deployment arguments | `[]`
diff --git a/deploy/charts/istio-operator/values.yaml b/deploy/charts/istio-operator/values.yaml
index d3c2674b5..4e4fa42e1 100644
--- a/deploy/charts/istio-operator/values.yaml
+++ b/deploy/charts/istio-operator/values.yaml
@@ -1,6 +1,6 @@
 image:
   repository: ghcr.io/banzaicloud/istio-operator
-  tag: "v2.11.7"
+  tag: "v2.11.8"
   pullPolicy: IfNotPresent
 replicaCount: 1
 extraArgs: []