diff --git a/pkg/operator/ceph/cluster/cluster.go b/pkg/operator/ceph/cluster/cluster.go
index bf3564ef0..af1bb50a8 100755
--- a/pkg/operator/ceph/cluster/cluster.go
+++ b/pkg/operator/ceph/cluster/cluster.go
@@ -60,6 +60,7 @@ type cluster struct {
 	context            *clusterd.Context
 	Namespace          string
 	Spec               *cephv1.ClusterSpec
+	clusterMetadata    metav1.ObjectMeta
 	namespacedName     types.NamespacedName
 	mons               *mon.Cluster
 	ownerInfo          *k8sutil.OwnerInfo
@@ -76,6 +77,7 @@ func newCluster(ctx context.Context, c *cephv1.CephCluster, context *clusterd.Co
 		ClusterInfo:        client.AdminClusterInfo(ctx, c.Namespace, c.Name),
 		Namespace:          c.Namespace,
 		Spec:               &c.Spec,
+		clusterMetadata:    c.ObjectMeta,
 		context:            context,
 		namespacedName:     types.NamespacedName{Namespace: c.Namespace, Name: c.Name},
 		monitoringRoutines: make(map[string]*controller.ClusterHealth),
@@ -91,7 +93,7 @@ func newCluster(ctx context.Context, c *cephv1.CephCluster, context *clusterd.Co
 func (c *cluster) reconcileCephDaemons(rookImage string, cephVersion cephver.CephVersion) error {
 	// Create a configmap for overriding ceph config settings
 	// These settings should only be modified by a user after they are initialized
-	err := populateConfigOverrideConfigMap(c.context, c.Namespace, c.ownerInfo)
+	err := populateConfigOverrideConfigMap(c.context, c.Namespace, c.ownerInfo, c.clusterMetadata)
 	if err != nil {
 		return errors.Wrap(err, "failed to populate config override config map")
 	}
diff --git a/pkg/operator/ceph/cluster/cluster_external.go b/pkg/operator/ceph/cluster/cluster_external.go
index d17fe1a9d..7e747138b 100644
--- a/pkg/operator/ceph/cluster/cluster_external.go
+++ b/pkg/operator/ceph/cluster/cluster_external.go
@@ -80,7 +80,7 @@ func (c *ClusterController) configureExternalCephCluster(cluster *cluster) error
 		//
 		// Only do this when doing a bit of management...
 		logger.Infof("creating %q configmap", k8sutil.ConfigOverrideName)
-		err = populateConfigOverrideConfigMap(c.context, c.namespacedName.Namespace, cluster.ClusterInfo.OwnerInfo)
+		err = populateConfigOverrideConfigMap(c.context, c.namespacedName.Namespace, cluster.ClusterInfo.OwnerInfo, cluster.clusterMetadata)
 		if err != nil {
 			return errors.Wrap(err, "failed to populate config override config map")
 		}
diff --git a/pkg/operator/ceph/cluster/utils.go b/pkg/operator/ceph/cluster/utils.go
index 65ba8307b..d5a728610 100644
--- a/pkg/operator/ceph/cluster/utils.go
+++ b/pkg/operator/ceph/cluster/utils.go
@@ -30,28 +30,83 @@ import (
 
 // populateConfigOverrideConfigMap creates the "rook-config-override" config map
 // Its content allows modifying Ceph configuration flags
-func populateConfigOverrideConfigMap(clusterdContext *clusterd.Context, namespace string, ownerInfo *k8sutil.OwnerInfo) error {
+func populateConfigOverrideConfigMap(clusterdContext *clusterd.Context, namespace string, ownerInfo *k8sutil.OwnerInfo, clusterMetadata metav1.ObjectMeta) error {
 	ctx := context.TODO()
-	placeholderConfig := map[string]string{
-		k8sutil.ConfigOverrideVal: "",
-	}
 
-	cm := &v1.ConfigMap{
-		ObjectMeta: metav1.ObjectMeta{
-			Name:      k8sutil.ConfigOverrideName,
-			Namespace: namespace,
-		},
-		Data: placeholderConfig,
-	}
-
-	err := ownerInfo.SetControllerReference(cm)
+	existingCM, err := clusterdContext.Clientset.CoreV1().ConfigMaps(namespace).Get(ctx, k8sutil.ConfigOverrideName, metav1.GetOptions{})
 	if err != nil {
-		return errors.Wrapf(err, "failed to set owner reference to override configmap %q", cm.Name)
-	}
-	_, err = clusterdContext.Clientset.CoreV1().ConfigMaps(namespace).Create(ctx, cm, metav1.CreateOptions{})
-	if err != nil && !kerrors.IsAlreadyExists(err) {
-		return errors.Wrapf(err, "failed to create override configmap %s", namespace)
+		if !kerrors.IsNotFound(err) {
+			logger.Warningf("failed to get cm %q to check labels and annotations", k8sutil.ConfigOverrideName)
+			return nil
+		}
+
+		labels := map[string]string{}
+		annotations := map[string]string{}
+		initRequiredMetadata(clusterMetadata, labels, annotations)
+
+		// Create the configmap since it doesn't exist yet
+		placeholderConfig := map[string]string{
+			k8sutil.ConfigOverrideVal: "",
+		}
+		cm := &v1.ConfigMap{
+			ObjectMeta: metav1.ObjectMeta{
+				Name:        k8sutil.ConfigOverrideName,
+				Namespace:   namespace,
+				Labels:      labels,
+				Annotations: annotations,
+			},
+			Data: placeholderConfig,
+		}
+
+		err := ownerInfo.SetControllerReference(cm)
+		if err != nil {
+			return errors.Wrapf(err, "failed to set owner reference to override configmap %q", cm.Name)
+		}
+		_, err = clusterdContext.Clientset.CoreV1().ConfigMaps(namespace).Create(ctx, cm, metav1.CreateOptions{})
+		if err != nil {
+			return errors.Wrapf(err, "failed to create override configmap %s", namespace)
+		}
+		logger.Infof("created placeholder configmap for ceph overrides %q", cm.Name)
+		return nil
 	}
 
+	// Ensure the annotations and labels are initialized
+	if existingCM.Annotations == nil {
+		existingCM.Annotations = map[string]string{}
+	}
+	if existingCM.Labels == nil {
+		existingCM.Labels = map[string]string{}
+	}
+
+	// Add recommended labels and annotations to the existing configmap if it doesn't have any yet
+	updateRequired := initRequiredMetadata(clusterMetadata, existingCM.Labels, existingCM.Annotations)
+	if updateRequired {
+		_, err = clusterdContext.Clientset.CoreV1().ConfigMaps(namespace).Update(ctx, existingCM, metav1.UpdateOptions{})
+		if err != nil {
+			logger.Warningf("failed to add recommended labels and annotations to configmap %q. %v", existingCM.Name, err)
+		} else {
+			logger.Infof("added expected labels and annotations to configmap %q", existingCM.Name)
+		}
+	}
 	return nil
 }
+
+func initRequiredMetadata(metadata metav1.ObjectMeta, labels, annotations map[string]string) bool {
+	// Add the helm labels and annotations in case the user wants to install the cluster helm chart to start managing it
+	releaseNameAttr := "meta.helm.sh/release-name"
+	chartName, ok := metadata.Annotations[releaseNameAttr]
+	if !ok {
+		logger.Debug("cluster helm chart is not configured, not adding helm annotations to configmap")
+		return false
+	}
+	if _, ok := annotations[releaseNameAttr]; ok {
+		logger.Debug("cluster helm chart helm annotations already added to configmap")
+		return false
+	}
+
+	logger.Infof("adding helm chart name %q annotation to configmap", chartName)
+	labels["app.kubernetes.io/managed-by"] = "Helm"
+	annotations[releaseNameAttr] = chartName
+	annotations["meta.helm.sh/release-namespace"] = metadata.Namespace
+	return true
+}
diff --git a/pkg/operator/ceph/cluster/utils_test.go b/pkg/operator/ceph/cluster/utils_test.go
new file mode 100644
index 000000000..c5a80a87d
--- /dev/null
+++ b/pkg/operator/ceph/cluster/utils_test.go
@@ -0,0 +1,105 @@
+/*
+Copyright 2023 The Rook Authors. All rights reserved.
+
+Licensed under the Apache License, Version 2.0 (the "License");
+you may not use this file except in compliance with the License.
+You may obtain a copy of the License at
+
+	http://www.apache.org/licenses/LICENSE-2.0
+
+Unless required by applicable law or agreed to in writing, software
+distributed under the License is distributed on an "AS IS" BASIS,
+WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+See the License for the specific language governing permissions and
+limitations under the License.
+*/
+
+// Package cluster to manage Kubernetes storage.
+package cluster
+
+import (
+	ctx "context"
+	"testing"
+
+	"github.com/rook/rook/pkg/clusterd"
+	"github.com/rook/rook/pkg/operator/k8sutil"
+	"github.com/rook/rook/pkg/operator/test"
+	"github.com/stretchr/testify/assert"
+	metav1 "k8s.io/apimachinery/pkg/apis/meta/v1"
+)
+
+func TestConfigmapOverrideUpdate(t *testing.T) {
+	// create mocked cluster context and info
+	clientset := test.New(t, 3)
+	context := &clusterd.Context{
+		Clientset: clientset,
+	}
+	ns := "test"
+	controllerRef := &metav1.OwnerReference{UID: "test-id"}
+	ownerInfo := k8sutil.NewOwnerInfoWithOwnerRef(controllerRef, "")
+	clusterMetadata := metav1.ObjectMeta{
+		Namespace: ns,
+	}
+
+	// The configmap should be created without any labels/annotations when helm not installed
+	err := populateConfigOverrideConfigMap(context, ns, ownerInfo, clusterMetadata)
+	assert.NoError(t, err)
+	cm, err := clientset.CoreV1().ConfigMaps(ns).Get(ctx.TODO(), k8sutil.ConfigOverrideName, metav1.GetOptions{})
+	assert.NoError(t, err)
+	assert.Equal(t, 0, len(cm.Annotations))
+	assert.Equal(t, 0, len(cm.Labels))
+
+	// Set the labels and annotations to nil and confirm helm labels are still not added
+	cm.Labels = nil
+	cm.Annotations = nil
+	_, err = clientset.CoreV1().ConfigMaps(ns).Update(ctx.TODO(), cm, metav1.UpdateOptions{})
+	assert.NoError(t, err)
+	err = populateConfigOverrideConfigMap(context, ns, ownerInfo, clusterMetadata)
+	assert.NoError(t, err)
+	cm, err = clientset.CoreV1().ConfigMaps(ns).Get(ctx.TODO(), k8sutil.ConfigOverrideName, metav1.GetOptions{})
+	assert.NoError(t, err)
+	assert.Equal(t, 0, len(cm.Annotations))
+	assert.Equal(t, 0, len(cm.Labels))
+
+	// The configmap should be created with the helm annotations
+	clusterMetadata.Annotations = map[string]string{"meta.helm.sh/release-name": "my-test-cluster"}
+	err = populateConfigOverrideConfigMap(context, ns, ownerInfo, clusterMetadata)
+	assert.NoError(t, err)
+	cm, err = clientset.CoreV1().ConfigMaps(ns).Get(ctx.TODO(), k8sutil.ConfigOverrideName, metav1.GetOptions{})
+	assert.NoError(t, err)
+	assert.Equal(t, 2, len(cm.Annotations))
+	assert.Equal(t, 1, len(cm.Labels))
+	assert.Equal(t, "my-test-cluster", cm.Annotations["meta.helm.sh/release-name"])
+
+	// Remove the labels and annotations from the configmap and verify they are added back
+	// This tests the upgrade scenario where the labels and annotations will not exist
+	cm.Labels = nil
+	cm.Annotations = nil
+	_, err = clientset.CoreV1().ConfigMaps(ns).Update(ctx.TODO(), cm, metav1.UpdateOptions{})
+	assert.NoError(t, err)
+	err = populateConfigOverrideConfigMap(context, ns, ownerInfo, clusterMetadata)
+	assert.NoError(t, err)
+	cm, err = clientset.CoreV1().ConfigMaps(ns).Get(ctx.TODO(), k8sutil.ConfigOverrideName, metav1.GetOptions{})
+	assert.NoError(t, err)
+	assert.Equal(t, 2, len(cm.Annotations))
+	assert.Equal(t, 1, len(cm.Labels))
+	assert.Equal(t, "my-test-cluster", cm.Annotations["meta.helm.sh/release-name"])
+
+	// The helm annotations should be added even if other non-helm properties exist
+	cm.Labels = map[string]string{"foo": "bar"}
+	cm.Annotations = map[string]string{"hello": "world"}
+	_, err = clientset.CoreV1().ConfigMaps(ns).Update(ctx.TODO(), cm, metav1.UpdateOptions{})
+	assert.NoError(t, err)
+
+	err = populateConfigOverrideConfigMap(context, ns, ownerInfo, clusterMetadata)
+	assert.NoError(t, err)
+	cm, err = clientset.CoreV1().ConfigMaps(ns).Get(ctx.TODO(), k8sutil.ConfigOverrideName, metav1.GetOptions{})
+	assert.NoError(t, err)
+	assert.Equal(t, 3, len(cm.Annotations))
+	assert.Equal(t, 2, len(cm.Labels))
+	assert.Equal(t, "world", cm.Annotations["hello"])
+	assert.Equal(t, "my-test-cluster", cm.Annotations["meta.helm.sh/release-name"])
+	assert.Equal(t, ns, cm.Annotations["meta.helm.sh/release-namespace"])
+	assert.Equal(t, "bar", cm.Labels["foo"])
+	assert.Equal(t, "Helm", cm.Labels["app.kubernetes.io/managed-by"])
+}