diff --git a/chart/Chart.yaml b/chart/Chart.yaml
index 4b5994a5852e1..9fd1548862c67 100644
--- a/chart/Chart.yaml
+++ b/chart/Chart.yaml
@@ -20,7 +20,7 @@
 apiVersion: v2
 name: airflow
 version: 1.14.0-dev
-appVersion: 2.8.2
+appVersion: 2.8.3
 description: The official Helm chart to deploy Apache Airflow, a platform to
   programmatically author, schedule, and monitor workflows
 home: https://airflow.apache.org/
@@ -47,23 +47,23 @@ annotations:
       url: https://airflow.apache.org/docs/helm-chart/1.14.0/
   artifacthub.io/screenshots: |
     - title: DAGs View
-      url: https://airflow.apache.org/docs/apache-airflow/2.8.2/_images/dags.png
+      url: https://airflow.apache.org/docs/apache-airflow/2.8.3/_images/dags.png
     - title: Datasets View
-      url: https://airflow.apache.org/docs/apache-airflow/2.8.2/_images/datasets.png
+      url: https://airflow.apache.org/docs/apache-airflow/2.8.3/_images/datasets.png
     - title: Grid View
-      url: https://airflow.apache.org/docs/apache-airflow/2.8.2/_images/grid.png
+      url: https://airflow.apache.org/docs/apache-airflow/2.8.3/_images/grid.png
     - title: Graph View
-      url: https://airflow.apache.org/docs/apache-airflow/2.8.2/_images/graph.png
+      url: https://airflow.apache.org/docs/apache-airflow/2.8.3/_images/graph.png
     - title: Calendar View
-      url: https://airflow.apache.org/docs/apache-airflow/2.8.2/_images/calendar.png
+      url: https://airflow.apache.org/docs/apache-airflow/2.8.3/_images/calendar.png
     - title: Variable View
-      url: https://airflow.apache.org/docs/apache-airflow/2.8.2/_images/variable_hidden.png
+      url: https://airflow.apache.org/docs/apache-airflow/2.8.3/_images/variable_hidden.png
     - title: Gantt Chart
-      url: https://airflow.apache.org/docs/apache-airflow/2.8.2/_images/gantt.png
+      url: https://airflow.apache.org/docs/apache-airflow/2.8.3/_images/gantt.png
     - title: Task Duration
-      url: https://airflow.apache.org/docs/apache-airflow/2.8.2/_images/duration.png
+      url: https://airflow.apache.org/docs/apache-airflow/2.8.3/_images/duration.png
     - title: Code View
-      url: https://airflow.apache.org/docs/apache-airflow/2.8.2/_images/code.png
+      url: https://airflow.apache.org/docs/apache-airflow/2.8.3/_images/code.png
   artifacthub.io/changes: |
     - description: Support labels specific to the database migration objects and pods
       kind: added
diff --git a/chart/newsfragments/38036.significant.rst b/chart/newsfragments/38036.significant.rst
new file mode 100644
index 0000000000000..068ca993e894d
--- /dev/null
+++ b/chart/newsfragments/38036.significant.rst
@@ -0,0 +1,3 @@
+Default Airflow image is updated to ``2.8.3``
+
+The default Airflow image that is used with the Chart is now ``2.8.3``, previously it was ``2.8.2``.
diff --git a/chart/values.schema.json b/chart/values.schema.json
index 87846acdf266b..4c00d72e9e985 100644
--- a/chart/values.schema.json
+++ b/chart/values.schema.json
@@ -77,7 +77,7 @@
         "defaultAirflowTag": {
             "description": "Default airflow tag to deploy.",
             "type": "string",
-            "default": "2.8.2",
+            "default": "2.8.3",
             "x-docsSection": "Common"
         },
         "defaultAirflowDigest": {
@@ -92,7 +92,7 @@
         "airflowVersion": {
             "description": "Airflow version (Used to make some decisions based on Airflow Version being deployed).",
             "type": "string",
-            "default": "2.8.2",
+            "default": "2.8.3",
             "x-docsSection": "Common"
         },
         "securityContext": {
diff --git a/chart/values.yaml b/chart/values.yaml
index 62c5174c5daf4..29519d3e47f8c 100644
--- a/chart/values.yaml
+++ b/chart/values.yaml
@@ -68,13 +68,13 @@ airflowHome: /opt/airflow
 defaultAirflowRepository: apache/airflow
 
 # Default airflow tag to deploy
-defaultAirflowTag: "2.8.2"
+defaultAirflowTag: "2.8.3"
 
 # Default airflow digest. If specified, it takes precedence over tag
 defaultAirflowDigest: ~
 
 # Airflow version (Used to make some decisions based on Airflow Version being deployed)
-airflowVersion: "2.8.2"
+airflowVersion: "2.8.3"
 
 # Images
 images: