diff --git a/charts/argo-cd/Chart.yaml b/charts/argo-cd/Chart.yaml
index b87afdd3a..3736bba15 100644
--- a/charts/argo-cd/Chart.yaml
+++ b/charts/argo-cd/Chart.yaml
@@ -3,7 +3,7 @@ appVersion: v2.7.7
 kubeVersion: ">=1.23.0-0"
 description: A Helm chart for Argo CD, a declarative, GitOps continuous delivery tool for Kubernetes.
 name: argo-cd
-version: 5.39.1
+version: 5.40.0
 home: https://github.com/argoproj/argo-helm
 icon: https://argo-cd.readthedocs.io/en/stable/assets/logo.png
 sources:
@@ -26,5 +26,5 @@ annotations:
     fingerprint: 2B8F22F57260EFA67BE1C5824B11F800CD9D2252
     url: https://argoproj.github.io/argo-helm/pgp_keys.asc
   artifacthub.io/changes: |
-    - kind: fixed
-      description: Ensure `app.kubernetes.io/version` label is valid
+    - kind: changed
+      description: Allow configurable metrics in server and repoServer HPAs
diff --git a/charts/argo-cd/README.md b/charts/argo-cd/README.md
index deaad2ba2..863ae8bbe 100644
--- a/charts/argo-cd/README.md
+++ b/charts/argo-cd/README.md
@@ -576,6 +576,7 @@ NAME: my-release
 | repoServer.autoscaling.behavior | object | `{}` | Configures the scaling behavior of the target in both Up and Down directions. This is only available on HPA apiVersion `autoscaling/v2beta2` and newer |
 | repoServer.autoscaling.enabled | bool | `false` | Enable Horizontal Pod Autoscaler ([HPA]) for the repo server |
 | repoServer.autoscaling.maxReplicas | int | `5` | Maximum number of replicas for the repo server [HPA] |
+| repoServer.autoscaling.metrics | list | `[]` | Configures custom HPA metrics for the Argo CD repo server Ref: https://kubernetes.io/docs/tasks/run-application/horizontal-pod-autoscale/ |
 | repoServer.autoscaling.minReplicas | int | `1` | Minimum number of replicas for the repo server [HPA] |
 | repoServer.autoscaling.targetCPUUtilizationPercentage | int | `50` | Average CPU utilization percentage for the repo server [HPA] |
 | repoServer.autoscaling.targetMemoryUtilizationPercentage | int | `50` | Average memory utilization percentage for the repo server [HPA] |
@@ -673,6 +674,7 @@ NAME: my-release
 | server.autoscaling.behavior | object | `{}` | Configures the scaling behavior of the target in both Up and Down directions. This is only available on HPA apiVersion `autoscaling/v2beta2` and newer |
 | server.autoscaling.enabled | bool | `false` | Enable Horizontal Pod Autoscaler ([HPA]) for the Argo CD server |
 | server.autoscaling.maxReplicas | int | `5` | Maximum number of replicas for the Argo CD server [HPA] |
+| server.autoscaling.metrics | list | `[]` | Configures custom HPA metrics for the Argo CD server Ref: https://kubernetes.io/docs/tasks/run-application/horizontal-pod-autoscale/ |
 | server.autoscaling.minReplicas | int | `1` | Minimum number of replicas for the Argo CD server [HPA] |
 | server.autoscaling.targetCPUUtilizationPercentage | int | `50` | Average CPU utilization percentage for the Argo CD server [HPA] |
 | server.autoscaling.targetMemoryUtilizationPercentage | int | `50` | Average memory utilization percentage for the Argo CD server [HPA] |
diff --git a/charts/argo-cd/templates/argocd-repo-server/hpa.yaml b/charts/argo-cd/templates/argocd-repo-server/hpa.yaml
index 2cba83248..ef3d5e80b 100644
--- a/charts/argo-cd/templates/argocd-repo-server/hpa.yaml
+++ b/charts/argo-cd/templates/argocd-repo-server/hpa.yaml
@@ -14,6 +14,9 @@ spec:
   minReplicas: {{ .Values.repoServer.autoscaling.minReplicas }}
   maxReplicas: {{ .Values.repoServer.autoscaling.maxReplicas }}
   metrics:
+  {{- if .Values.repoServer.autoscaling.metrics }}
+    {{- toYaml .Values.repoServer.autoscaling.metrics | nindent 4 }}
+  {{- else }}
   {{- with .Values.repoServer.autoscaling.targetMemoryUtilizationPercentage }}
     - type: Resource
       resource:
@@ -38,6 +41,7 @@ spec:
           type: Utilization
         {{- end }}
   {{- end }}
+  {{- end }}
   {{- with .Values.repoServer.autoscaling.behavior }}
   behavior:
     {{- toYaml . | nindent 4 }}
diff --git a/charts/argo-cd/templates/argocd-server/hpa.yaml b/charts/argo-cd/templates/argocd-server/hpa.yaml
index cbc17c319..c19b89433 100644
--- a/charts/argo-cd/templates/argocd-server/hpa.yaml
+++ b/charts/argo-cd/templates/argocd-server/hpa.yaml
@@ -14,6 +14,9 @@ spec:
   minReplicas: {{ .Values.server.autoscaling.minReplicas }}
   maxReplicas: {{ .Values.server.autoscaling.maxReplicas }}
   metrics:
+  {{- if .Values.server.autoscaling.metrics }}
+    {{ toYaml .Values.server.autoscaling.metrics | nindent 4 }}
+  {{- else }}
   {{- with .Values.server.autoscaling.targetMemoryUtilizationPercentage }}
     - type: Resource
       resource:
@@ -38,6 +41,7 @@ spec:
           type: Utilization
         {{- end }}
   {{- end }}
+  {{- end}}
   {{- with .Values.server.autoscaling.behavior }}
   behavior:
     {{- toYaml . | nindent 4 }}
diff --git a/charts/argo-cd/values.yaml b/charts/argo-cd/values.yaml
index 83ecff3eb..38f9b2d7f 100644
--- a/charts/argo-cd/values.yaml
+++ b/charts/argo-cd/values.yaml
@@ -1476,6 +1476,9 @@ server:
       #   - type: Pods
       #     value: 2
       #     periodSeconds: 60
+    # -- Configures custom HPA metrics for the Argo CD server
+    # Ref: https://kubernetes.io/docs/tasks/run-application/horizontal-pod-autoscale/
+    metrics: []
 
   ## Argo CD server Pod Disruption Budget
   ## Ref: https://kubernetes.io/docs/tasks/run-application/configure-pdb/
@@ -2043,6 +2046,9 @@ repoServer:
       #   - type: Pods
       #     value: 2
       #     periodSeconds: 60
+    # -- Configures custom HPA metrics for the Argo CD repo server
+    # Ref: https://kubernetes.io/docs/tasks/run-application/horizontal-pod-autoscale/
+    metrics: []
 
   ## Repo server Pod Disruption Budget
   ## Ref: https://kubernetes.io/docs/tasks/run-application/configure-pdb/