diff --git a/fleetconfig-controller/charts/fleetconfig-controller/README.md b/fleetconfig-controller/charts/fleetconfig-controller/README.md
index d9c5117b..806b6940 100644
--- a/fleetconfig-controller/charts/fleetconfig-controller/README.md
+++ b/fleetconfig-controller/charts/fleetconfig-controller/README.md
@@ -111,7 +111,7 @@ Refer to the [Multicluster Controlplane configuration](https://github.com/open-c
 | `replicas`                                          | fleetconfig-controller replica count                                                                                           | `1`                                                      |
 | `imageRegistry`                                     | Image registry                                                                                                                 | `""`                                                     |
 | `image.repository`                                  | Image repository                                                                                                               | `quay.io/open-cluster-management/fleetconfig-controller` |
-| `image.tag`                                         | Image tag                                                                                                                      | `v0.0.2`                                                 |
+| `image.tag`                                         | Image tag                                                                                                                      | `v0.0.3`                                                 |
 | `image.pullPolicy`                                  | Image pull policy                                                                                                              | `IfNotPresent`                                           |
 | `imagePullSecrets`                                  | Image pull secrets                                                                                                             | `[]`                                                     |
 | `serviceAccount.annotations`                        | Annotations to add to the service account                                                                                      | `{}`                                                     |
diff --git a/fleetconfig-controller/charts/fleetconfig-controller/values.yaml b/fleetconfig-controller/charts/fleetconfig-controller/values.yaml
index 8500fb40..e8f0b8d4 100644
--- a/fleetconfig-controller/charts/fleetconfig-controller/values.yaml
+++ b/fleetconfig-controller/charts/fleetconfig-controller/values.yaml
@@ -247,7 +247,7 @@ imageRegistry: ""
 ## @param image.pullPolicy Image pull policy
 image:
   repository: quay.io/open-cluster-management/fleetconfig-controller
-  tag: v0.0.2
+  tag: v0.0.3
   pullPolicy: IfNotPresent
 
 ## @param imagePullSecrets Image pull secrets