diff --git a/action.yml b/action.yml
index 4c1e06f0..e0728254 100644
--- a/action.yml
+++ b/action.yml
@@ -1,10 +1,14 @@
 name: 'Helm tool installer'
 description: 'Install a specific version of helm binary. Acceptable values are latest or any semantic version string like 1.15.0'
-inputs: 
+inputs:
   version:
     description: 'Version of helm'
     required: true
     default: 'latest'
+  token:
+    description: 'Github token'
+    default: ${{ github.token }}
+    required: true
 outputs:
   helm-path:
     description: 'Path to the cached helm binary'
diff --git a/lib/run.js b/lib/run.js
index 550c95fa..99539536 100644
--- a/lib/run.js
+++ b/lib/run.js
@@ -1,6 +1,26 @@
 "use strict";
 // Copyright (c) Microsoft Corporation.
+// Copyright (c) Microsoft Corporation.
 // Licensed under the MIT license.
+var __createBinding = (this && this.__createBinding) || (Object.create ? (function(o, m, k, k2) {
+    if (k2 === undefined) k2 = k;
+    Object.defineProperty(o, k2, { enumerable: true, get: function() { return m[k]; } });
+}) : (function(o, m, k, k2) {
+    if (k2 === undefined) k2 = k;
+    o[k2] = m[k];
+}));
+var __setModuleDefault = (this && this.__setModuleDefault) || (Object.create ? (function(o, v) {
+    Object.defineProperty(o, "default", { enumerable: true, value: v });
+}) : function(o, v) {
+    o["default"] = v;
+});
+var __importStar = (this && this.__importStar) || function (mod) {
+    if (mod && mod.__esModule) return mod;
+    var result = {};
+    if (mod != null) for (var k in mod) if (k !== "default" && Object.hasOwnProperty.call(mod, k)) __createBinding(result, mod, k);
+    __setModuleDefault(result, mod);
+    return result;
+};
 var __awaiter = (this && this.__awaiter) || function (thisArg, _arguments, P, generator) {
     function adopt(value) { return value instanceof P ? value : new P(function (resolve) { resolve(value); }); }
     return new (P || (P = Promise))(function (resolve, reject) {
@@ -10,14 +30,8 @@ var __awaiter = (this && this.__awaiter) || function (thisArg, _arguments, P, ge
         step((generator = generator.apply(thisArg, _arguments || [])).next());
     });
 };
-var __importStar = (this && this.__importStar) || function (mod) {
-    if (mod && mod.__esModule) return mod;
-    var result = {};
-    if (mod != null) for (var k in mod) if (Object.hasOwnProperty.call(mod, k)) result[k] = mod[k];
-    result["default"] = mod;
-    return result;
-};
 Object.defineProperty(exports, "__esModule", { value: true });
+exports.getStableHelmVersion = void 0;
 const os = __importStar(require("os"));
 const path = __importStar(require("path"));
 const util = __importStar(require("util"));
@@ -25,8 +39,13 @@ const fs = __importStar(require("fs"));
 const semver = __importStar(require("semver"));
 const toolCache = __importStar(require("@actions/tool-cache"));
 const core = __importStar(require("@actions/core"));
+const graphql_1 = require("@octokit/graphql");
 const helmToolName = 'helm';
 const stableHelmVersion = 'v3.2.1';
+const stableHelm3Version = 'v3.5.3';
+const stableHelm2Version = 'v2.17.0';
+const LATEST_HELM2_VERSION = '2.*';
+const LATEST_HELM3_VERSION = '3.*';
 const helmAllReleasesUrl = 'https://api.github.com/repos/helm/helm/releases';
 function getExecutableExtension() {
     if (os.type().match(/^Win/)) {
@@ -71,6 +90,7 @@ function getStableHelmVersion() {
         return stableHelmVersion;
     });
 }
+exports.getStableHelmVersion = getStableHelmVersion;
 var walkSync = function (dir, filelist, fileToFind) {
     var files = fs.readdirSync(dir);
     filelist = filelist || [];
@@ -90,7 +110,7 @@ var walkSync = function (dir, filelist, fileToFind) {
 function downloadHelm(version) {
     return __awaiter(this, void 0, void 0, function* () {
         if (!version) {
-            version = yield getStableHelmVersion();
+            version = yield getLatestHelmVersionFor("v3");
         }
         let cachedToolpath = toolCache.find(helmToolName, version);
         if (!cachedToolpath) {
@@ -113,6 +133,45 @@ function downloadHelm(version) {
         return helmpath;
     });
 }
+function getLatestHelmVersionFor(type) {
+    return __awaiter(this, void 0, void 0, function* () {
+        const token = core.getInput('token', { 'required': true });
+        try {
+            const { repository } = yield graphql_1.graphql(`{
+                repository(name: "helm", owner: "helm") {
+                    releases(last: 100)  {
+                        nodes {
+                            tagName
+                        }
+                    }
+                }
+            }`, {
+                headers: {
+                    authorization: `token ${token}`
+                }
+            });
+            const releases = repository.releases.nodes.reverse();
+            let latestValidRelease = releases.find(release => isValidVersion(release.tagName, type));
+            if (latestValidRelease)
+                return latestValidRelease.tagName;
+        }
+        catch (err) {
+            core.warning(util.format("Error while fetching the latest Helm %s release. Error: %s. Using default Helm version %s.", type, err.toString(), getStableHelmVersionFor(type)));
+            return getStableHelmVersionFor(type);
+        }
+        core.warning(util.format("Could not find stable release for Helm %s. Using default Helm version %s.", type, getStableHelmVersionFor(type)));
+        return getStableHelmVersionFor(type);
+    });
+}
+function getStableHelmVersionFor(type) {
+    return type === "v2" ? stableHelm2Version : stableHelm3Version;
+}
+// isValidVersion checks if verison matches the specified type and is a stable release
+function isValidVersion(version, type) {
+    if (!version.toLocaleLowerCase().startsWith(type))
+        return false;
+    return version.indexOf('rc') == -1;
+}
 function findHelm(rootFolder) {
     fs.chmodSync(rootFolder, '777');
     var filelist = [];
@@ -127,12 +186,26 @@ function findHelm(rootFolder) {
 function run() {
     return __awaiter(this, void 0, void 0, function* () {
         let version = core.getInput('version', { 'required': true });
-        if (version.toLocaleLowerCase() === 'latest') {
-            version = yield getStableHelmVersion();
+        if (process.env['HELM_INSTALLER_LEGACY_VERSIONING'] == 'true') {
+            if (version.toLocaleLowerCase() === 'latest') {
+                version = yield getStableHelmVersion();
+            }
+            else if (!version.toLocaleLowerCase().startsWith('v')) {
+                version = 'v' + version;
+            }
         }
-        else if (!version.toLocaleLowerCase().startsWith('v')) {
-            version = 'v' + version;
+        else {
+            if (version.toLocaleLowerCase() === 'latest' || version === LATEST_HELM3_VERSION) {
+                version = yield getLatestHelmVersionFor("v3");
+            }
+            else if (version === LATEST_HELM2_VERSION) {
+                version = yield getLatestHelmVersionFor("v2");
+            }
+            else if (!version.toLocaleLowerCase().startsWith('v')) {
+                version = 'v' + version;
+            }
         }
+        core.debug(util.format("Downloading %s", version));
         let cachedPath = yield downloadHelm(version);
         try {
             if (!process.env['PATH'].startsWith(path.dirname(cachedPath))) {
diff --git a/package-lock.json b/package-lock.json
index eed33cf1..d37aae92 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -6166,4 +6166,4 @@
             }
         }
     }
-}
+}
\ No newline at end of file
diff --git a/package.json b/package.json
index edc3171b..e91075ed 100644
--- a/package.json
+++ b/package.json
@@ -6,10 +6,11 @@
     "author": "Anumita Shenoy",
     "license": "MIT",
     "dependencies": {
-        "@actions/tool-cache": "1.1.2",
-        "@actions/io": "^1.0.0",
         "@actions/core": "^1.2.6",
         "@actions/exec": "^1.0.0",
+        "@actions/io": "^1.0.0",
+        "@actions/tool-cache": "1.1.2",
+        "@octokit/graphql": "^4.6.1",
         "semver": "^6.1.0"
     },
     "main": "lib/run.js",
diff --git a/src/run.ts b/src/run.ts
index 767ca611..616d1b5b 100644
--- a/src/run.ts
+++ b/src/run.ts
@@ -1,4 +1,5 @@
 // Copyright (c) Microsoft Corporation.
+// Copyright (c) Microsoft Corporation.
 // Licensed under the MIT license.
 
 import * as os from 'os';
@@ -9,9 +10,14 @@ import * as semver from 'semver';
 
 import * as toolCache from '@actions/tool-cache';
 import * as core from '@actions/core';
+import { graphql } from '@octokit/graphql';
 
 const helmToolName = 'helm';
 const stableHelmVersion = 'v3.2.1';
+const stableHelm3Version = 'v3.5.3';
+const stableHelm2Version = 'v2.17.0';
+const LATEST_HELM2_VERSION = '2.*';
+const LATEST_HELM3_VERSION = '3.*';
 const helmAllReleasesUrl = 'https://api.github.com/repos/helm/helm/releases';
 
 export function getExecutableExtension(): string {
@@ -32,7 +38,6 @@ export function getHelmDownloadURL(version: string): string {
         case 'Windows_NT':
         default:
             return util.format('https://get.helm.sh/helm-%s-windows-amd64.zip', version);
-
     }
 }
 
@@ -61,7 +66,6 @@ export async function getStableHelmVersion(): Promise<string> {
     return stableHelmVersion;
 }
 
-
 export var walkSync = function (dir, filelist, fileToFind) {
     var files = fs.readdirSync(dir);
     filelist = filelist || [];
@@ -104,6 +108,49 @@ export async function downloadHelm(version: string): Promise<string> {
     return helmpath;
 }
 
+async function getLatestHelmVersionFor(type: string): Promise<string> {
+    const token = core.getInput('token', { 'required': true });
+    try {
+        const { repository } = await graphql(
+            `{
+                repository(name: "helm", owner: "helm") {
+                    releases(last: 100)  {
+                        nodes {
+                            tagName
+                        }
+                    }
+                }
+            }`,
+            {
+                headers: {
+                    authorization: `token ${token}`
+                }
+            }
+        );
+
+        const releases = repository.releases.nodes.reverse();
+        let latestValidRelease = releases.find(release => isValidVersion(release.tagName, type));
+        if (latestValidRelease)
+            return latestValidRelease.tagName;
+    } catch (err) {
+        core.warning(util.format("Error while fetching the latest Helm %s release. Error: %s. Using default Helm version %s.", type, err.toString(), getStableHelmVersionFor(type)));
+        return getStableHelmVersionFor(type);
+    }
+    core.warning(util.format("Could not find stable release for Helm %s. Using default Helm version %s.", type, getStableHelmVersionFor(type)));
+    return getStableHelmVersionFor(type);
+}
+
+function getStableHelmVersionFor(type: string) {
+    return type === "v2" ? stableHelm2Version : stableHelm3Version;
+}
+
+// isValidVersion checks if verison matches the specified type and is a stable release
+function isValidVersion(version: string, type: string): boolean {
+    if (!version.toLocaleLowerCase().startsWith(type))
+        return false;
+    return version.indexOf('rc') == -1;
+}
+
 export function findHelm(rootFolder: string): string {
     fs.chmodSync(rootFolder, '777');
     var filelist: string[] = [];
@@ -118,12 +165,24 @@ export function findHelm(rootFolder: string): string {
 
 export async function run() {
     let version = core.getInput('version', { 'required': true });
-    if (version.toLocaleLowerCase() === 'latest') {
-        version = await getStableHelmVersion();
-    } else if (!version.toLocaleLowerCase().startsWith('v')) {
-        version = 'v' + version;
+
+    if (process.env['HELM_INSTALLER_LEGACY_VERSIONING'] == 'true') {
+        if (version.toLocaleLowerCase() === 'latest') {
+            version = await getStableHelmVersion();
+        } else if (!version.toLocaleLowerCase().startsWith('v')) {
+            version = 'v' + version;
+        }
+    } else {
+        if (version.toLocaleLowerCase() === 'latest' || version === LATEST_HELM3_VERSION) {
+            version = await getLatestHelmVersionFor("v3");
+        } else if (version === LATEST_HELM2_VERSION) {
+            version = await getLatestHelmVersionFor("v2");
+        } else if (!version.toLocaleLowerCase().startsWith('v')) {
+            version = 'v' + version;
+        }
     }
 
+    core.debug(util.format("Downloading %s", version));
     let cachedPath = await downloadHelm(version);
 
     try {