diff --git a/hack/release.sh b/hack/release.sh
index 7ed045926c..23a01ee2a4 100644
--- a/hack/release.sh
+++ b/hack/release.sh
@@ -55,6 +55,16 @@ function set_version_label() {
     -e "s/(app.kubernetes.io\/version: )\"?${old_version}\"?/\1${operator_version}/g" \
     -e "s/(version: )\"?${old_version}\"?/\1${operator_version}/g" \
     -e "s/(\"-version\"), \"?${old_version}\"?/\1, ${operator_version}/g" cmd/openshift/operator/kodata/cabundles/*.yaml
+
+  # Update the Helm chart. Chart.yaml's "version" (plain semver, no "v"
+  # prefix) and "appVersion" (matches the release tag) are the only fields
+  # that need updating: every templates/*.yaml label is already rendered
+  # from .Chart.AppVersion.
+  echo updating charts/tekton-operator/Chart.yaml from version: ${old_version} to version: ${operator_version}
+  sed -i -E \
+    -e "s/^version: \"?${old_version#v}\"?/version: ${operator_version#v}/" \
+    -e "s/^appVersion: \"?${old_version}\"?/appVersion: ${operator_version}/" \
+    charts/tekton-operator/Chart.yaml
 }
 
 
@@ -64,6 +74,7 @@ function commit_changes() {
 
   git add -u cmd/
   git add -u config/
+  git add -u charts/
   git commit -m "Freezing Component versions and updating version labels"
 }
 
diff --git a/tekton/release-cheat-sheet.md b/tekton/release-cheat-sheet.md
index dda66ec069..0706bb7e38 100644
--- a/tekton/release-cheat-sheet.md
+++ b/tekton/release-cheat-sheet.md
@@ -51,20 +51,6 @@ on the shared Tekton infrastructure cluster.
    curl -s https://infra.tekton.dev/tekton-releases/operator/previous/${TEKTON_RELEASE_VERSION}/openshift-release.yaml | head
    ```
 
-1. Update Helm charts with the new version:
-
-   ```bash
-   # Update labels in YAML files under templates directory
-   find charts/tekton-operator/templates -type f -name '*.yaml' -exec sed -i \
-     "s/operator\.tekton\.dev\/release: \"devel\"/operator.tekton.dev\/release: ${TEKTON_RELEASE_VERSION}/g" {} +
-   find charts/tekton-operator/templates -type f -name '*.yaml' -exec sed -i \
-     "s/version: \"devel\"/version: ${TEKTON_RELEASE_VERSION}/g" {} +
-
-   # Update Chart.yaml
-   sed -i "s/^version: \"devel\"/version: ${TEKTON_RELEASE_VERSION#v}/" charts/tekton-operator/Chart.yaml
-   sed -i "s/^appVersion: \"devel\"/appVersion: ${TEKTON_RELEASE_VERSION}/" charts/tekton-operator/Chart.yaml
-   ```
-
 ### Patch Release (bugfix)
 
 Patch releases can be triggered manually or automatically.