diff --git a/charts/kube-prometheus-stack/Chart.yaml b/charts/kube-prometheus-stack/Chart.yaml
index 875cfd554af7..84c8aaee7ca3 100644
--- a/charts/kube-prometheus-stack/Chart.yaml
+++ b/charts/kube-prometheus-stack/Chart.yaml
@@ -23,7 +23,7 @@ name: kube-prometheus-stack
 sources:
   - https://github.com/prometheus-community/helm-charts
   - https://github.com/prometheus-operator/kube-prometheus
-version: 66.7.1
+version: 67.0.0
 appVersion: v0.79.0
 kubeVersion: ">=1.19.0-0"
 home: https://github.com/prometheus-operator/kube-prometheus
diff --git a/charts/kube-prometheus-stack/README.md b/charts/kube-prometheus-stack/README.md
index 7c217644eb64..bbfd7e1e9fd3 100644
--- a/charts/kube-prometheus-stack/README.md
+++ b/charts/kube-prometheus-stack/README.md
@@ -82,6 +82,25 @@ _See [helm upgrade](https://helm.sh/docs/helm/helm_upgrade/) for command documen
 
 A major chart version change (like v1.2.3 -> v2.0.0) indicates that there is an incompatible breaking change needing manual actions.
 
+### From 66.x to 67.x
+
+This version upgrades Prometheus Image to v3.0.1 as it is the default version starting with operator version v0.79.0
+
+Run these commands to update the CRDs before applying the upgrade.
+
+```console
+kubectl apply --server-side -f https://raw.githubusercontent.com/prometheus-operator/prometheus-operator/v0.79.0/example/prometheus-operator-crd/monitoring.coreos.com_alertmanagerconfigs.yaml
+kubectl apply --server-side -f https://raw.githubusercontent.com/prometheus-operator/prometheus-operator/v0.79.0/example/prometheus-operator-crd/monitoring.coreos.com_alertmanagers.yaml
+kubectl apply --server-side -f https://raw.githubusercontent.com/prometheus-operator/prometheus-operator/v0.79.0/example/prometheus-operator-crd/monitoring.coreos.com_podmonitors.yaml
+kubectl apply --server-side -f https://raw.githubusercontent.com/prometheus-operator/prometheus-operator/v0.79.0/example/prometheus-operator-crd/monitoring.coreos.com_probes.yaml
+kubectl apply --server-side -f https://raw.githubusercontent.com/prometheus-operator/prometheus-operator/v0.79.0/example/prometheus-operator-crd/monitoring.coreos.com_prometheusagents.yaml
+kubectl apply --server-side -f https://raw.githubusercontent.com/prometheus-operator/prometheus-operator/v0.79.0/example/prometheus-operator-crd/monitoring.coreos.com_prometheuses.yaml
+kubectl apply --server-side -f https://raw.githubusercontent.com/prometheus-operator/prometheus-operator/v0.79.0/example/prometheus-operator-crd/monitoring.coreos.com_prometheusrules.yaml
+kubectl apply --server-side -f https://raw.githubusercontent.com/prometheus-operator/prometheus-operator/v0.79.0/example/prometheus-operator-crd/monitoring.coreos.com_scrapeconfigs.yaml
+kubectl apply --server-side -f https://raw.githubusercontent.com/prometheus-operator/prometheus-operator/v0.79.0/example/prometheus-operator-crd/monitoring.coreos.com_servicemonitors.yaml
+kubectl apply --server-side -f https://raw.githubusercontent.com/prometheus-operator/prometheus-operator/v0.79.0/example/prometheus-operator-crd/monitoring.coreos.com_thanosrulers.yaml
+```
+
 ### From 65.x to 66.x
 
 This version upgrades Prometheus-Operator to v0.78.1
diff --git a/charts/kube-prometheus-stack/values.yaml b/charts/kube-prometheus-stack/values.yaml
index 838ee8763045..554a7bc11d48 100644
--- a/charts/kube-prometheus-stack/values.yaml
+++ b/charts/kube-prometheus-stack/values.yaml
@@ -3630,7 +3630,7 @@ prometheus:
     image:
       registry: quay.io
       repository: prometheus/prometheus
-      tag: v2.55.1
+      tag: v3.0.1
       sha: ""
 
     ## Tolerations for use with node taints