diff --git a/common/defaults.go b/common/defaults.go
index a0a3b66c6..8db230147 100644
--- a/common/defaults.go
+++ b/common/defaults.go
@@ -58,7 +58,7 @@ const (
 	ArgoCDDefaultArgoImage = "quay.io/argoproj/argocd"
 
 	// ArgoCDDefaultArgoVersion is the Argo CD container image digest to use when version not specified.
-	ArgoCDDefaultArgoVersion = "sha256:975e9678680faaaf07524b4dfaabf5148aff94421cd42a810504d5cf3be7561c" // v2.1.7
+	ArgoCDDefaultArgoVersion = "sha256:96430a46ceebb78db2f51ec97681267a79e2ab13c91e3762d569084b067d0867" // v2.1.8
 
 	// ArgoCDDefaultBackupKeyLength is the length of the generated default backup key.
 	ArgoCDDefaultBackupKeyLength = 32
diff --git a/go.mod b/go.mod
index e8db7696a..ad275f347 100644
--- a/go.mod
+++ b/go.mod
@@ -3,7 +3,7 @@ module github.com/argoproj-labs/argocd-operator
 go 1.16
 
 require (
-	github.com/argoproj/argo-cd/v2 v2.1.2
+	github.com/argoproj/argo-cd/v2 v2.1.8
 	github.com/coreos/prometheus-operator v0.40.0
 	github.com/go-logr/logr v0.4.0
 	github.com/google/go-cmp v0.5.6
diff --git a/go.sum b/go.sum
index a9f52ac46..200c90094 100644
--- a/go.sum
+++ b/go.sum
@@ -148,10 +148,10 @@ github.com/antihax/optional v1.0.0/go.mod h1:uupD/76wgC+ih3iEmQUL+0Ugr19nfwCT1kd
 github.com/apache/arrow/go/arrow v0.0.0-20191024131854-af6fa24be0db/go.mod h1:VTxUBvSJ3s3eHAg65PNgrsn5BtqCRPdmyXh6rAfdxN0=
 github.com/apache/thrift v0.12.0/go.mod h1:cp2SuWMxlEZw2r+iP2GNCdIi4C1qmUzdZFSVb+bacwQ=
 github.com/apache/thrift v0.13.0/go.mod h1:cp2SuWMxlEZw2r+iP2GNCdIi4C1qmUzdZFSVb+bacwQ=
-github.com/argoproj/argo-cd/v2 v2.1.2 h1:Ls+nJQJ7HWHeg9AKtFeeUCQTsSFvzDpbZq+ALxHL680=
-github.com/argoproj/argo-cd/v2 v2.1.2/go.mod h1:JpFTdXbIG3k6HM790Ykqezciulr7tgmWko3snxcPUzE=
-github.com/argoproj/gitops-engine v0.4.1/go.mod h1:EdFe8qIOqsmbyxRhtIydU4BUeyZ4VTsY6R3XVQhU9LA=
-github.com/argoproj/pkg v0.9.1/go.mod h1:ra+bQPmbVAoEL+gYSKesuigt4m49i3Qa3mE/xQcjCiA=
+github.com/argoproj/argo-cd/v2 v2.1.8 h1:ucML6GrEsassbeo1RFbUPVcWZeoaNhS4keVoRnsTo+g=
+github.com/argoproj/argo-cd/v2 v2.1.8/go.mod h1:mf570payhUhM0DQaTB5ugAwcrgGBqhgHCtRtj6WWTeQ=
+github.com/argoproj/gitops-engine v0.4.2/go.mod h1:EdFe8qIOqsmbyxRhtIydU4BUeyZ4VTsY6R3XVQhU9LA=
+github.com/argoproj/pkg v0.11.1-0.20211203175135-36c59d8fafe0/go.mod h1:ra+bQPmbVAoEL+gYSKesuigt4m49i3Qa3mE/xQcjCiA=
 github.com/armon/circbuf v0.0.0-20150827004946-bbbad097214e/go.mod h1:3U/XgcO3hCbHZ8TKRvWD2dDTCfh9M9ya+I9JpbB7O8o=
 github.com/armon/consul-api v0.0.0-20180202201655-eb2c6b5be1b6/go.mod h1:grANhF5doyWs3UAsr3K4I6qtAmlQcZDesFNEHPZAzj8=
 github.com/armon/go-metrics v0.0.0-20180917152333-f0300d1749da/go.mod h1:Q73ZrmVTwzkszR9V5SSuryQ31EELlFMUz1kKyl939pY=