diff --git a/charts/cluster-autoscaler/Chart.yaml b/charts/cluster-autoscaler/Chart.yaml
index acf5456d6d..30a7a13db6 100644
--- a/charts/cluster-autoscaler/Chart.yaml
+++ b/charts/cluster-autoscaler/Chart.yaml
@@ -17,4 +17,4 @@ name: cluster-autoscaler
 sources:
   - https://github.com/kubernetes/autoscaler/tree/master/cluster-autoscaler
 type: application
-version: 9.18.0
+version: 9.18.1
diff --git a/charts/cluster-autoscaler/templates/_helpers.tpl b/charts/cluster-autoscaler/templates/_helpers.tpl
index 726086e899..944fd1cf6f 100644
--- a/charts/cluster-autoscaler/templates/_helpers.tpl
+++ b/charts/cluster-autoscaler/templates/_helpers.tpl
@@ -75,6 +75,18 @@ Return the appropriate apiVersion for podsecuritypolicy.
 {{- end -}}
 {{- end -}}
 
+{{/*
+Return the appropriate apiVersion for podDisruptionBudget.
+*/}}
+{{- define "podDisruptionBudget.apiVersion" -}}
+{{- $kubeTargetVersion := default .Capabilities.KubeVersion.GitVersion .Values.kubeTargetVersionOverride }}
+{{- if semverCompare "<1.21-0" $kubeTargetVersion -}}
+{{- print "policy/v1beta1" -}}
+{{- else -}}
+{{- print "policy/v1" -}}
+{{- end -}}
+{{- end -}}
+
 {{/*
 Return the service account name used by the pod.
 */}}
diff --git a/charts/cluster-autoscaler/templates/pdb.yaml b/charts/cluster-autoscaler/templates/pdb.yaml
index 19a7d01c1e..8ad782096b 100644
--- a/charts/cluster-autoscaler/templates/pdb.yaml
+++ b/charts/cluster-autoscaler/templates/pdb.yaml
@@ -1,5 +1,5 @@
 {{- if .Values.podDisruptionBudget -}}
-apiVersion: policy/v1beta1
+apiVersion: {{ template "podDisruptionBudget.apiVersion" . }}
 kind: PodDisruptionBudget
 metadata:
   labels: