diff --git a/chart/Chart.yaml b/chart/Chart.yaml
index 711058ae3..4f7f90e6f 100644
--- a/chart/Chart.yaml
+++ b/chart/Chart.yaml
@@ -32,7 +32,7 @@ dependencies:
     repository: https://charts.bitnami.com/bitnami
     version: 8.6.0
   - name: jaeger-operator
-    version: 2.25.0
+    version: 2.50.1
     repository: https://jaegertracing.github.io/helm-charts
     condition: base.jaeger.enabled
   - name: loki-stack
diff --git a/chart/README.md b/chart/README.md
index c094093ea..85ac80249 100644
--- a/chart/README.md
+++ b/chart/README.md
@@ -57,7 +57,7 @@ This removes all the Kubernetes components associated with the chart and deletes
 |  | crds | 0.0.0 |
 | https://charts.bitnami.com/bitnami | etcd | 8.6.0 |
 | https://grafana.github.io/helm-charts | loki-stack | 2.9.11 |
-| https://jaegertracing.github.io/helm-charts | jaeger-operator | 2.25.0 |
+| https://jaegertracing.github.io/helm-charts | jaeger-operator | 2.50.1 |
 | https://nats-io.github.io/k8s/helm/charts/ | nats | 0.19.14 |
 | https://openebs.github.io/dynamic-localpv-provisioner | localpv-provisioner | 4.0.0 |
 
@@ -101,14 +101,12 @@ This removes all the Kubernetes components associated with the chart and deletes
 | base.​cache_poll_period | Cache timeout for core agent & diskpool deployment | `"30s"` |
 | base.​default_req_timeout | Request timeout for rest & core agents | `"5s"` |
 | base.​imagePullSecrets.​enabled | Enable imagePullSecrets for pulling our container images | `false` |
-| base.​jaeger.​enabled | Enable jaeger tracing | `false` |
 | base.​logging.​color | Enable ansi color code for Pod StdOut/StdErr | `true` |
 | base.​logging.​format | Valid values for format are pretty, json and compact | `"pretty"` |
 | base.​logging.​silenceLevel | Silence specific module components | `nil` |
 | base.​metrics.​enabled | Enable the metrics exporter | `true` |
 | crds.​csi.​volumeSnapshots.​enabled | Install Volume Snapshot CRDs | `true` |
 | crds.​enabled | Disables the installation of all CRDs if set to false | `true` |
-| crds.​jaeger.​enabled | Install Jaeger CRDs | `true` |
 | csi.​controller.​logLevel | Log level for the csi controller | `"info"` |
 | csi.​controller.​preventVolumeModeConversion | Prevent modifying the volume mode when creating a PVC from an existing VolumeSnapshot | `true` |
 | csi.​controller.​priorityClassName | Set PriorityClass, overrides global | `""` |
diff --git a/chart/charts/crds/README.md b/chart/charts/crds/README.md
index 8a704da86..7b8aca397 100644
--- a/chart/charts/crds/README.md
+++ b/chart/charts/crds/README.md
@@ -9,7 +9,4 @@ A Helm chart that collects CustomResourceDefinitions (CRDs) from Mayastor.
 | csi.&ZeroWidthSpace;volumeSnapshots.&ZeroWidthSpace;annotations | Annotations to be added to all CRDs | <pre>{<br><br>}</pre> |
 | csi.&ZeroWidthSpace;volumeSnapshots.&ZeroWidthSpace;enabled | Install Volume Snapshot CRDs | `true` |
 | csi.&ZeroWidthSpace;volumeSnapshots.&ZeroWidthSpace;keep | Keep CRDs on chart uninstall | `true` |
-| jaeger.&ZeroWidthSpace;annotations | Annotations to be added to all CRDs | <pre>{<br><br>}</pre> |
-| jaeger.&ZeroWidthSpace;enabled | Install Jaeger CRDs | `true` |
-| jaeger.&ZeroWidthSpace;keep | Keep CRDs on chart uninstall | `true` |
 
diff --git a/chart/charts/crds/templates/jaeger.yaml b/chart/charts/crds/templates/jaeger.yaml
deleted file mode 100644
index 68d025f6c..000000000
--- a/chart/charts/crds/templates/jaeger.yaml
+++ /dev/null
@@ -1,50 +0,0 @@
-{{- if .Values.jaeger.enabled -}}
-apiVersion: apiextensions.k8s.io/v1
-kind: CustomResourceDefinition
-metadata:
-  name: jaegers.jaegertracing.io
-  {{- if or (.Values.jaeger.keep) (.Values.jaeger.annotations) }}
-  annotations:
-    {{- include "crds.extraAnnotations" .Values.jaeger | nindent 4 }}
-  {{- end }}
-  labels:
-    app: jaeger-operator
-spec:
-  group: jaegertracing.io
-  names:
-    kind: Jaeger
-    listKind: JaegerList
-    plural: jaegers
-    singular: jaeger
-  scope: Namespaced
-  versions:
-    - name: v1
-      schema:
-        openAPIV3Schema:
-          x-kubernetes-preserve-unknown-fields: true
-          type: object
-      additionalPrinterColumns:
-        - description: Jaeger instance's status
-          jsonPath: .status.phase
-          name: Status
-          type: string
-        - description: Jaeger Version
-          jsonPath: .status.version
-          name: Version
-          type: string
-        - description: Jaeger deployment strategy
-          jsonPath: .spec.strategy
-          name: Strategy
-          type: string
-        - description: Jaeger storage type
-          jsonPath: .spec.storage.type
-          name: Storage
-          type: string
-        - jsonPath: .metadata.creationTimestamp
-          name: Age
-          type: date
-      served: true
-      storage: true
-      subresources:
-        status: {}
-{{- end -}}
diff --git a/chart/charts/crds/values.yaml b/chart/charts/crds/values.yaml
index fdda41f28..d3bb538dd 100644
--- a/chart/charts/crds/values.yaml
+++ b/chart/charts/crds/values.yaml
@@ -1,13 +1,3 @@
-jaeger:
-  # -- Install Jaeger CRDs
-  enabled: true
-  # -- Keep CRDs on chart uninstall
-  keep: true
-  # -- Annotations to be added to all CRDs
-  annotations: {}
-    # Example for Argo CD to prevent CRDs from being recycled
-    # argocd.argoproj.io/sync-options: Prune=false
-
 csi:
   volumeSnapshots:
     # -- Install Volume Snapshot CRDs
@@ -18,4 +8,3 @@ csi:
     annotations: {}
     # Example for Argo CD to prevent CRDs from being recycled
     # argocd.argoproj.io/sync-options: Prune=false
-
diff --git a/chart/values.yaml b/chart/values.yaml
index 9231bdca2..72b7f5fce 100644
--- a/chart/values.yaml
+++ b/chart/values.yaml
@@ -1,9 +1,6 @@
 crds:
   # -- Disables the installation of all CRDs if set to false
   enabled: true
-  jaeger:
-    # -- Install Jaeger CRDs
-    enabled: true
   csi:
     volumeSnapshots:
       # -- Install Volume Snapshot CRDs
@@ -103,7 +100,9 @@ base:
     enabled: true
 
   jaeger:
-    # -- Enable jaeger tracing
+    # Enable jaeger tracing (for development only).
+    # Since version 1.31 the Jaeger Operator uses webhooks to validate Jaeger custom resources (CRs).
+    # This requires an installed version of the cert-manager.
     enabled: false
     initContainer: true
     agent:
@@ -143,9 +142,6 @@ operators:
 jaeger-operator:
   # Name of jaeger operator
   name: "{{ .Release.Name }}"
-  crd:
-    # Install jaeger CRDs
-    install: false
   jaeger:
     # Install jaeger-operator
     create: false
diff --git a/k8s/upgrade/src/bin/upgrade-job/helm/chart.rs b/k8s/upgrade/src/bin/upgrade-job/helm/chart.rs
index 4060204a6..2f4160c24 100644
--- a/k8s/upgrade/src/bin/upgrade-job/helm/chart.rs
+++ b/k8s/upgrade/src/bin/upgrade-job/helm/chart.rs
@@ -75,6 +75,9 @@ pub(crate) struct CoreValues {
     eventing: Eventing,
     /// This contains Kubernetes CSI sidecar container image details.
     csi: Csi,
+    /// The contains the values for the jaegertracing/jaeger-operator chart.
+    #[serde(rename(deserialize = "jaeger-operator"))]
+    jaeger_operator: JaegerOperator,
     /// This contains loki-stack details.
     #[serde(rename(deserialize = "loki-stack"))]
     loki_stack: LokiStack,
@@ -290,6 +293,10 @@ impl CoreValues {
     pub(crate) fn deprecated_log_silence_level(&self) -> &str {
         self.base.deprecated_log_silence_level()
     }
+
+    pub(crate) fn jaeger_operator_image_tag(&self) -> &str {
+        self.jaeger_operator.image_tag()
+    }
 }
 
 /// This is used to deserialize the yaml object agents.
@@ -1043,3 +1050,16 @@ impl LocalpvProvisionerHelperPod {
         self.image.tag()
     }
 }
+
+/// This is used to deserialize the '.jaeger-operator' yaml object.
+#[derive(Deserialize)]
+struct JaegerOperator {
+    image: GenericImage,
+}
+
+impl JaegerOperator {
+    /// This returns the image tag of the jaeger-operator from the jaeger-operator helm chart.
+    fn image_tag(&self) -> &str {
+        self.image.tag()
+    }
+}
diff --git a/k8s/upgrade/src/bin/upgrade-job/helm/values.rs b/k8s/upgrade/src/bin/upgrade-job/helm/values.rs
index 0571b3fff..71ddac761 100644
--- a/k8s/upgrade/src/bin/upgrade-job/helm/values.rs
+++ b/k8s/upgrade/src/bin/upgrade-job/helm/values.rs
@@ -361,6 +361,14 @@ where
             YamlKey::try_from(".csi.node.pluginMounthPath")?,
             upgrade_values_file.path(),
         )?;
+
+        // This sets the image tag for the jaeger-operator. This is required for the
+        // jaeger-operator dependency update from 2.50.0 to 2.50.1.
+        yq.set_literal_value(
+            YamlKey::try_from(".jaeger-operator.image.tag")?,
+            source_values.jaeger_operator_image_tag(),
+            upgrade_values_file.path(),
+        )?;
     }
 
     // Default options.