diff --git a/config/overlays/odh/params.env b/config/overlays/odh/params.env
index 819ca559872..05e3380d38b 100644
--- a/config/overlays/odh/params.env
+++ b/config/overlays/odh/params.env
@@ -1,4 +1,4 @@
 kserve-controller=quay.io/modh/kserve-controller@sha256:7b8a872a801a3b4ddaf91330fa361ea7d245e16646a31af48b4c7c9c9294cace
 kserve-agent=quay.io/modh/kserve-agent@sha256:d07e9da4b7580f85e284b12f2ccd437df7ef708dff244f848bff6c8ecc915e5d
 kserve-router=quay.io/modh/kserve-router@sha256:020e02ca1f2c039597548ee91bac9cda7ad42981a55e2164ff9ce719324492c6
-kserve-storage-initializer=quay.io/modh/kserve-storage-initializer@sha256:e745f50a8abbe412cdf5d868c5aeb4658f2042837d1d62c4825dac51bd7f40fb
+kserve-storage-initializer=quay.io/modh/kserve-storage-initializer@sha256:a3b29d8105d10b0ecae7faf8b420c014cb46230418b4dd16712e49ee047a241f