diff --git a/charts/opentelemetry-target-allocator/Chart.yaml b/charts/opentelemetry-target-allocator/Chart.yaml
index cb438ed5cb..3eebdfa9e9 100644
--- a/charts/opentelemetry-target-allocator/Chart.yaml
+++ b/charts/opentelemetry-target-allocator/Chart.yaml
@@ -1,6 +1,6 @@
 apiVersion: v2
 name: opentelemetry-target-allocator
-version: 0.126.8
+version: 0.126.9
 description: OpenTelemetry Target Allocator Helm chart for Kubernetes
 type: application
 home: https://opentelemetry.io/
diff --git a/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/clusterRole.yaml b/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/clusterRole.yaml
index 62995fa69b..bc7a9f2ff0 100644
--- a/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/clusterRole.yaml
+++ b/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/clusterRole.yaml
@@ -6,7 +6,7 @@ metadata:
   namespace: default
   name: example-opentelemetry-target-allocator-ta-clusterRole
   labels:
-    helm.sh/chart: opentelemetry-target-allocator-0.126.8
+    helm.sh/chart: opentelemetry-target-allocator-0.126.9
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/part-of: opentelemetry-target-allocator
     app.kubernetes.io/version: "0.126.0"
diff --git a/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/clusterRoleBinding.yaml b/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/clusterRoleBinding.yaml
index 7a0da4ec7b..12365976bd 100644
--- a/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/clusterRoleBinding.yaml
+++ b/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/clusterRoleBinding.yaml
@@ -5,7 +5,7 @@ apiVersion: rbac.authorization.k8s.io/v1
 metadata:
   name: example-opentelemetry-target-allocator-ta-clusterRoleBinding
   labels:
-    helm.sh/chart: opentelemetry-target-allocator-0.126.8
+    helm.sh/chart: opentelemetry-target-allocator-0.126.9
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/part-of: opentelemetry-target-allocator
     app.kubernetes.io/version: "0.126.0"
diff --git a/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/configmap.yaml b/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/configmap.yaml
index e52d8c17d6..f7a81ceffa 100644
--- a/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/configmap.yaml
+++ b/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/configmap.yaml
@@ -6,7 +6,7 @@ metadata:
   name: example-opentelemetry-target-allocator-ta-configmap
   namespace: default
   labels:
-    helm.sh/chart: opentelemetry-target-allocator-0.126.8
+    helm.sh/chart: opentelemetry-target-allocator-0.126.9
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/part-of: opentelemetry-target-allocator
     app.kubernetes.io/version: "0.126.0"
diff --git a/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/deployment.yaml b/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/deployment.yaml
index 215b2be343..7b19f27ba5 100644
--- a/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/deployment.yaml
+++ b/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/deployment.yaml
@@ -6,7 +6,7 @@ metadata:
   namespace: default
   name: example-opentelemetry-target-allocator-ta
   labels:
-    helm.sh/chart: opentelemetry-target-allocator-0.126.8
+    helm.sh/chart: opentelemetry-target-allocator-0.126.9
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/part-of: opentelemetry-target-allocator
     app.kubernetes.io/version: "0.126.0"
@@ -21,9 +21,9 @@ spec:
   template:
     metadata:
       annotations:
-        checksum/config: ee55404fc5702a76a16d7879c5e0ed943016d539e553760bed97da4ffa5066e5
+        checksum/config: 45d4cea2a0e9943239c6c5bd73d0a5c10a4524553b41b7e000b3f4f2c7168a98
       labels:
-        helm.sh/chart: opentelemetry-target-allocator-0.126.8
+        helm.sh/chart: opentelemetry-target-allocator-0.126.9
         app.kubernetes.io/managed-by: Helm
         app.kubernetes.io/part-of: opentelemetry-target-allocator
         app.kubernetes.io/version: "0.126.0"
@@ -47,6 +47,18 @@ spec:
           env: # Workaround for https://github.com/open-telemetry/opentelemetry-operator/pull/3976
             - name: OTELCOL_NAMESPACE
               value: default
+          livenessProbe:
+            httpGet:
+              path: /livez
+              port: 8080
+            initialDelaySeconds: 15
+            periodSeconds: 20
+          readinessProbe:
+            httpGet:
+              path: /readyz
+              port: 8080
+            initialDelaySeconds: 5
+            periodSeconds: 10
           
       volumes:
         - name: config-volume
diff --git a/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/serviceAccount.yaml b/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/serviceAccount.yaml
index c5adc4965a..a58b151920 100644
--- a/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/serviceAccount.yaml
+++ b/charts/opentelemetry-target-allocator/examples/collector-fleet/rendered/serviceAccount.yaml
@@ -7,7 +7,7 @@ metadata:
   name: example-opentelemetry-target-allocator-ta
   namespace: default
   labels:
-    helm.sh/chart: opentelemetry-target-allocator-0.126.8
+    helm.sh/chart: opentelemetry-target-allocator-0.126.9
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/part-of: opentelemetry-target-allocator
     app.kubernetes.io/version: "0.126.0"
diff --git a/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/clusterRole.yaml b/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/clusterRole.yaml
index 62995fa69b..bc7a9f2ff0 100644
--- a/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/clusterRole.yaml
+++ b/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/clusterRole.yaml
@@ -6,7 +6,7 @@ metadata:
   namespace: default
   name: example-opentelemetry-target-allocator-ta-clusterRole
   labels:
-    helm.sh/chart: opentelemetry-target-allocator-0.126.8
+    helm.sh/chart: opentelemetry-target-allocator-0.126.9
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/part-of: opentelemetry-target-allocator
     app.kubernetes.io/version: "0.126.0"
diff --git a/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/clusterRoleBinding.yaml b/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/clusterRoleBinding.yaml
index 7a0da4ec7b..12365976bd 100644
--- a/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/clusterRoleBinding.yaml
+++ b/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/clusterRoleBinding.yaml
@@ -5,7 +5,7 @@ apiVersion: rbac.authorization.k8s.io/v1
 metadata:
   name: example-opentelemetry-target-allocator-ta-clusterRoleBinding
   labels:
-    helm.sh/chart: opentelemetry-target-allocator-0.126.8
+    helm.sh/chart: opentelemetry-target-allocator-0.126.9
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/part-of: opentelemetry-target-allocator
     app.kubernetes.io/version: "0.126.0"
diff --git a/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/configmap.yaml b/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/configmap.yaml
index 71b734b7f8..089a37bc4e 100644
--- a/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/configmap.yaml
+++ b/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/configmap.yaml
@@ -6,7 +6,7 @@ metadata:
   name: example-opentelemetry-target-allocator-ta-configmap
   namespace: default
   labels:
-    helm.sh/chart: opentelemetry-target-allocator-0.126.8
+    helm.sh/chart: opentelemetry-target-allocator-0.126.9
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/part-of: opentelemetry-target-allocator
     app.kubernetes.io/version: "0.126.0"
diff --git a/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/deployment.yaml b/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/deployment.yaml
index 50a1c5ee29..37648112ce 100644
--- a/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/deployment.yaml
+++ b/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/deployment.yaml
@@ -6,7 +6,7 @@ metadata:
   namespace: default
   name: example-opentelemetry-target-allocator-ta
   labels:
-    helm.sh/chart: opentelemetry-target-allocator-0.126.8
+    helm.sh/chart: opentelemetry-target-allocator-0.126.9
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/part-of: opentelemetry-target-allocator
     app.kubernetes.io/version: "0.126.0"
@@ -21,9 +21,9 @@ spec:
   template:
     metadata:
       annotations:
-        checksum/config: 35ce569f53eee6bd86d96308b97bb8423836cda985d3c50c60bc09fb1604176d
+        checksum/config: ab2696b96de79fb2f5c08f2e4ddb88d7ef300fb1f3b51c1a03a28ab78c6917d4
       labels:
-        helm.sh/chart: opentelemetry-target-allocator-0.126.8
+        helm.sh/chart: opentelemetry-target-allocator-0.126.9
         app.kubernetes.io/managed-by: Helm
         app.kubernetes.io/part-of: opentelemetry-target-allocator
         app.kubernetes.io/version: "0.126.0"
@@ -47,6 +47,18 @@ spec:
           env: # Workaround for https://github.com/open-telemetry/opentelemetry-operator/pull/3976
             - name: OTELCOL_NAMESPACE
               value: default
+          livenessProbe:
+            httpGet:
+              path: /livez
+              port: 8080
+            initialDelaySeconds: 15
+            periodSeconds: 20
+          readinessProbe:
+            httpGet:
+              path: /readyz
+              port: 8080
+            initialDelaySeconds: 5
+            periodSeconds: 10
           
       volumes:
         - name: config-volume
diff --git a/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/serviceAccount.yaml b/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/serviceAccount.yaml
index c5adc4965a..a58b151920 100644
--- a/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/serviceAccount.yaml
+++ b/charts/opentelemetry-target-allocator/examples/consistent-hashing/rendered/serviceAccount.yaml
@@ -7,7 +7,7 @@ metadata:
   name: example-opentelemetry-target-allocator-ta
   namespace: default
   labels:
-    helm.sh/chart: opentelemetry-target-allocator-0.126.8
+    helm.sh/chart: opentelemetry-target-allocator-0.126.9
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/part-of: opentelemetry-target-allocator
     app.kubernetes.io/version: "0.126.0"
diff --git a/charts/opentelemetry-target-allocator/examples/existing-service-account/rendered/configmap.yaml b/charts/opentelemetry-target-allocator/examples/existing-service-account/rendered/configmap.yaml
index 71b734b7f8..089a37bc4e 100644
--- a/charts/opentelemetry-target-allocator/examples/existing-service-account/rendered/configmap.yaml
+++ b/charts/opentelemetry-target-allocator/examples/existing-service-account/rendered/configmap.yaml
@@ -6,7 +6,7 @@ metadata:
   name: example-opentelemetry-target-allocator-ta-configmap
   namespace: default
   labels:
-    helm.sh/chart: opentelemetry-target-allocator-0.126.8
+    helm.sh/chart: opentelemetry-target-allocator-0.126.9
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/part-of: opentelemetry-target-allocator
     app.kubernetes.io/version: "0.126.0"
diff --git a/charts/opentelemetry-target-allocator/examples/existing-service-account/rendered/deployment.yaml b/charts/opentelemetry-target-allocator/examples/existing-service-account/rendered/deployment.yaml
index 20aaaced1d..2b38564d9e 100644
--- a/charts/opentelemetry-target-allocator/examples/existing-service-account/rendered/deployment.yaml
+++ b/charts/opentelemetry-target-allocator/examples/existing-service-account/rendered/deployment.yaml
@@ -6,7 +6,7 @@ metadata:
   namespace: default
   name: example-opentelemetry-target-allocator-ta
   labels:
-    helm.sh/chart: opentelemetry-target-allocator-0.126.8
+    helm.sh/chart: opentelemetry-target-allocator-0.126.9
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/part-of: opentelemetry-target-allocator
     app.kubernetes.io/version: "0.126.0"
@@ -21,9 +21,9 @@ spec:
   template:
     metadata:
       annotations:
-        checksum/config: 35ce569f53eee6bd86d96308b97bb8423836cda985d3c50c60bc09fb1604176d
+        checksum/config: ab2696b96de79fb2f5c08f2e4ddb88d7ef300fb1f3b51c1a03a28ab78c6917d4
       labels:
-        helm.sh/chart: opentelemetry-target-allocator-0.126.8
+        helm.sh/chart: opentelemetry-target-allocator-0.126.9
         app.kubernetes.io/managed-by: Helm
         app.kubernetes.io/part-of: opentelemetry-target-allocator
         app.kubernetes.io/version: "0.126.0"
@@ -47,6 +47,18 @@ spec:
           env: # Workaround for https://github.com/open-telemetry/opentelemetry-operator/pull/3976
             - name: OTELCOL_NAMESPACE
               value: default
+          livenessProbe:
+            httpGet:
+              path: /livez
+              port: 8080
+            initialDelaySeconds: 15
+            periodSeconds: 20
+          readinessProbe:
+            httpGet:
+              path: /readyz
+              port: 8080
+            initialDelaySeconds: 5
+            periodSeconds: 10
           
       volumes:
         - name: config-volume
diff --git a/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/clusterRole.yaml b/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/clusterRole.yaml
index 62995fa69b..bc7a9f2ff0 100644
--- a/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/clusterRole.yaml
+++ b/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/clusterRole.yaml
@@ -6,7 +6,7 @@ metadata:
   namespace: default
   name: example-opentelemetry-target-allocator-ta-clusterRole
   labels:
-    helm.sh/chart: opentelemetry-target-allocator-0.126.8
+    helm.sh/chart: opentelemetry-target-allocator-0.126.9
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/part-of: opentelemetry-target-allocator
     app.kubernetes.io/version: "0.126.0"
diff --git a/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/clusterRoleBinding.yaml b/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/clusterRoleBinding.yaml
index 7a0da4ec7b..12365976bd 100644
--- a/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/clusterRoleBinding.yaml
+++ b/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/clusterRoleBinding.yaml
@@ -5,7 +5,7 @@ apiVersion: rbac.authorization.k8s.io/v1
 metadata:
   name: example-opentelemetry-target-allocator-ta-clusterRoleBinding
   labels:
-    helm.sh/chart: opentelemetry-target-allocator-0.126.8
+    helm.sh/chart: opentelemetry-target-allocator-0.126.9
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/part-of: opentelemetry-target-allocator
     app.kubernetes.io/version: "0.126.0"
diff --git a/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/configmap.yaml b/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/configmap.yaml
index e4754ce11a..441cd84ac5 100644
--- a/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/configmap.yaml
+++ b/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/configmap.yaml
@@ -6,7 +6,7 @@ metadata:
   name: example-opentelemetry-target-allocator-ta-configmap
   namespace: default
   labels:
-    helm.sh/chart: opentelemetry-target-allocator-0.126.8
+    helm.sh/chart: opentelemetry-target-allocator-0.126.9
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/part-of: opentelemetry-target-allocator
     app.kubernetes.io/version: "0.126.0"
diff --git a/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/deployment.yaml b/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/deployment.yaml
index e850d94aef..3200cf2361 100644
--- a/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/deployment.yaml
+++ b/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/deployment.yaml
@@ -6,7 +6,7 @@ metadata:
   namespace: default
   name: example-opentelemetry-target-allocator-ta
   labels:
-    helm.sh/chart: opentelemetry-target-allocator-0.126.8
+    helm.sh/chart: opentelemetry-target-allocator-0.126.9
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/part-of: opentelemetry-target-allocator
     app.kubernetes.io/version: "0.126.0"
@@ -21,9 +21,9 @@ spec:
   template:
     metadata:
       annotations:
-        checksum/config: 4b59f1bc097630abce1cad4743e8e7c4e6564bf20e73507bbc086c84c47e6b12
+        checksum/config: 279f69d9d3bfd9dfc0c0621df095192fcdd97a943bb77f25ac8f92bfa11ff37b
       labels:
-        helm.sh/chart: opentelemetry-target-allocator-0.126.8
+        helm.sh/chart: opentelemetry-target-allocator-0.126.9
         app.kubernetes.io/managed-by: Helm
         app.kubernetes.io/part-of: opentelemetry-target-allocator
         app.kubernetes.io/version: "0.126.0"
@@ -47,6 +47,18 @@ spec:
           env: # Workaround for https://github.com/open-telemetry/opentelemetry-operator/pull/3976
             - name: OTELCOL_NAMESPACE
               value: foo
+          livenessProbe:
+            httpGet:
+              path: /livez
+              port: 8080
+            initialDelaySeconds: 15
+            periodSeconds: 20
+          readinessProbe:
+            httpGet:
+              path: /readyz
+              port: 8080
+            initialDelaySeconds: 5
+            periodSeconds: 10
           
       volumes:
         - name: config-volume
diff --git a/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/serviceAccount.yaml b/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/serviceAccount.yaml
index c5adc4965a..a58b151920 100644
--- a/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/serviceAccount.yaml
+++ b/charts/opentelemetry-target-allocator/examples/prometheus-scrape-config/rendered/serviceAccount.yaml
@@ -7,7 +7,7 @@ metadata:
   name: example-opentelemetry-target-allocator-ta
   namespace: default
   labels:
-    helm.sh/chart: opentelemetry-target-allocator-0.126.8
+    helm.sh/chart: opentelemetry-target-allocator-0.126.9
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/part-of: opentelemetry-target-allocator
     app.kubernetes.io/version: "0.126.0"
diff --git a/charts/opentelemetry-target-allocator/templates/deployment.yaml b/charts/opentelemetry-target-allocator/templates/deployment.yaml
index 14e1e94db2..b717b763d9 100644
--- a/charts/opentelemetry-target-allocator/templates/deployment.yaml
+++ b/charts/opentelemetry-target-allocator/templates/deployment.yaml
@@ -6,7 +6,7 @@ metadata:
   labels:
     {{- include "helper.commonLabels" . | nindent 4 }}
 spec:
-  replicas: 1
+  replicas: {{ .Values.replicaCount }}
   selector:
     matchLabels:
       {{- include "helper.selectorLabels" . | nindent 6 }}
@@ -56,6 +56,14 @@ spec:
           env: # Workaround for https://github.com/open-telemetry/opentelemetry-operator/pull/3976
             - name: OTELCOL_NAMESPACE
               value: {{ .Values.targetAllocator.config.collector_namespace | default .Release.Namespace }}
+          {{- with .Values.targetAllocator.livenessProbe }}
+          livenessProbe:
+            {{- toYaml . | nindent 12 }}
+          {{- end }}
+          {{- with .Values.targetAllocator.readinessProbe }}
+          readinessProbe:
+            {{- toYaml . | nindent 12 }}
+          {{- end }}
           {{ if .Values.targetAllocator.resources }}
           resources:
             {{- toYaml .Values.targetAllocator.resources | nindent 12 }}
diff --git a/charts/opentelemetry-target-allocator/values.yaml b/charts/opentelemetry-target-allocator/values.yaml
index 3f1ed24552..66e5bc0b97 100644
--- a/charts/opentelemetry-target-allocator/values.yaml
+++ b/charts/opentelemetry-target-allocator/values.yaml
@@ -13,6 +13,9 @@ nameOverride: ""
 # fullnameOverride completely replaces the generated name.
 fullnameOverride: ""
 
+# Number of replicas for the target allocator deployment
+replicaCount: 1
+
 targetAllocator:
   image:
     repository: ghcr.io/open-telemetry/opentelemetry-operator/target-allocator
@@ -56,6 +59,23 @@ targetAllocator:
     #   cpu: 100m
     #   memory: 64Mi
 
+  # liveness probe configuration
+  # Ref: https://kubernetes.io/docs/tasks/configure-pod-container/configure-liveness-readiness-startup-probes/
+  livenessProbe:
+    httpGet:
+      path: /livez
+      port: 8080
+    initialDelaySeconds: 15
+    periodSeconds: 20
+
+  # readiness probe configuration
+  # Ref: https://kubernetes.io/docs/tasks/configure-pod-container/configure-liveness-readiness-startup-probes/
+  readinessProbe:
+    httpGet:
+      path: /readyz
+      port: 8080
+    initialDelaySeconds: 5
+    periodSeconds: 10
   # Pod annotations to add to the target allocator pod
   podAnnotations: {}