diff --git a/addons/opentelemetry-collector/Chart.yaml b/addons/opentelemetry-collector/Chart.yaml
index f55b5aa0d..9394b449f 100644
--- a/addons/opentelemetry-collector/Chart.yaml
+++ b/addons/opentelemetry-collector/Chart.yaml
@@ -6,6 +6,6 @@ version: v0.0.1 # x-release-please-version
 dependencies:
   - name: opentelemetry-collector
     alias: otlp-collector-source
-    version: 0.73.1
+    version: 0.74.0
     repository: https://open-telemetry.github.io/opentelemetry-helm-charts
     condition: otlp-collector-source.enabled