diff --git a/pkg/cloudprovider/aws/apis/v1alpha1/tags.go b/pkg/cloudprovider/aws/apis/v1alpha1/tags.go
index 08d8d9804a42..64006ce2159f 100644
--- a/pkg/cloudprovider/aws/apis/v1alpha1/tags.go
+++ b/pkg/cloudprovider/aws/apis/v1alpha1/tags.go
@@ -28,8 +28,14 @@ import (
 
 func MergeTags(ctx context.Context, custom ...map[string]string) (result []*ec2.Tag) {
 	tags := map[string]string{
+		// karpenter.sh/provisioner-name: <provisioner-name>
 		v1alpha5.ProvisionerNameLabelKey: injection.GetNamespacedName(ctx).Name,
-		"Name":                           fmt.Sprintf("%s/%s", v1alpha5.ProvisionerNameLabelKey, injection.GetNamespacedName(ctx).Name),
+		// karpenter.sh/cluster/<cluster-name>: owned
+		fmt.Sprintf("%s/cluster/%s", v1alpha5.Group, injection.GetOptions(ctx).ClusterName): "owned",
+		// kubernetes.io/cluster/<cluster-name>: owned
+		fmt.Sprintf("kubernetes.io/cluster/%s", injection.GetOptions(ctx).ClusterName): "owned",
+		// Name: karpenter.sh/cluster/<cluster-name>/provisioner/<provisioner-name>
+		"Name": fmt.Sprintf("%s/cluster/%s/provisioner/%s", v1alpha5.Group, injection.GetOptions(ctx).ClusterName, injection.GetNamespacedName(ctx).Name),
 	}
 	// Custom tags may override defaults (e.g. Name)
 	for _, t := range custom {
diff --git a/pkg/cloudprovider/aws/instance.go b/pkg/cloudprovider/aws/instance.go
index dd6c96350478..3b8f69340731 100644
--- a/pkg/cloudprovider/aws/instance.go
+++ b/pkg/cloudprovider/aws/instance.go
@@ -137,7 +137,7 @@ func (p *InstanceProvider) launchInstances(ctx context.Context, constraints *v1a
 		return nil, fmt.Errorf("getting launch template configs, %w", err)
 	}
 	// Create fleet
-	tags := v1alpha1.MergeTags(ctx, constraints.Tags, map[string]string{fmt.Sprintf("kubernetes.io/cluster/%s", injection.GetOptions(ctx).ClusterName): "owned"})
+	tags := v1alpha1.MergeTags(ctx, constraints.Tags)
 	createFleetInput := &ec2.CreateFleetInput{
 		Type:                  aws.String(ec2.FleetTypeInstant),
 		LaunchTemplateConfigs: launchTemplateConfigs,
@@ -148,6 +148,7 @@ func (p *InstanceProvider) launchInstances(ctx context.Context, constraints *v1a
 		TagSpecifications: []*ec2.TagSpecification{
 			{ResourceType: aws.String(ec2.ResourceTypeInstance), Tags: tags},
 			{ResourceType: aws.String(ec2.ResourceTypeVolume), Tags: tags},
+			{ResourceType: aws.String(ec2.ResourceTypeFleet), Tags: tags},
 		},
 	}
 	if capacityType == v1alpha1.CapacityTypeSpot {
diff --git a/pkg/cloudprovider/aws/suite_test.go b/pkg/cloudprovider/aws/suite_test.go
index 34e2c61e7379..56a74c7aa61a 100644
--- a/pkg/cloudprovider/aws/suite_test.go
+++ b/pkg/cloudprovider/aws/suite_test.go
@@ -476,7 +476,7 @@ var _ = Describe("Allocation", func() {
 				ExpectScheduled(ctx, env.Client, pod)
 				Expect(fakeEC2API.CalledWithCreateFleetInput.Cardinality()).To(Equal(1))
 				createFleetInput := fakeEC2API.CalledWithCreateFleetInput.Pop().(*ec2.CreateFleetInput)
-				Expect(createFleetInput.TagSpecifications).To(HaveLen(2))
+				Expect(createFleetInput.TagSpecifications).To(HaveLen(3))
 
 				// tags should be included in both the instance and volume tag specification
 				Expect(*createFleetInput.TagSpecifications[0].ResourceType).To(Equal(ec2.ResourceTypeInstance))
@@ -497,7 +497,7 @@ var _ = Describe("Allocation", func() {
 				ExpectScheduled(ctx, env.Client, pod)
 				Expect(fakeEC2API.CalledWithCreateFleetInput.Cardinality()).To(Equal(1))
 				createFleetInput := fakeEC2API.CalledWithCreateFleetInput.Pop().(*ec2.CreateFleetInput)
-				Expect(createFleetInput.TagSpecifications).To(HaveLen(2))
+				Expect(createFleetInput.TagSpecifications).To(HaveLen(3))
 
 				// tags should be included in both the instance and volume tag specification
 				Expect(*createFleetInput.TagSpecifications[0].ResourceType).To(Equal(ec2.ResourceTypeInstance))
@@ -505,6 +505,41 @@ var _ = Describe("Allocation", func() {
 
 				Expect(*createFleetInput.TagSpecifications[1].ResourceType).To(Equal(ec2.ResourceTypeVolume))
 				ExpectTags(createFleetInput.TagSpecifications[1].Tags, provider.Tags)
+
+				Expect(fakeEC2API.CalledWithCreateLaunchTemplateInput.Cardinality()).To(Equal(1))
+				createLaunchTemplateInput := fakeEC2API.CalledWithCreateLaunchTemplateInput.Pop().(*ec2.CreateLaunchTemplateInput)
+				// default tags should be included in the LaunchTemplate specification
+				Expect(*createLaunchTemplateInput.TagSpecifications[0].ResourceType).To(Equal(ec2.ResourceTypeLaunchTemplate))
+				ExpectTags(createLaunchTemplateInput.TagSpecifications[0].Tags, provider.Tags)
+			})
+
+			It("should apply default tags if not overriden", func() {
+				// default tags applied to all created resources
+				defaultTags := map[string]string{
+					v1alpha5.ProvisionerNameLabelKey: provisioner.Name,
+					fmt.Sprintf("karpenter.sh/cluster/%s", opts.ClusterName): "owned",
+					fmt.Sprintf("kubernetes.io/cluster/%s", opts.ClusterName): "owned",
+					"Name": fmt.Sprintf("karpenter.sh/cluster/%s/provisioner/%s", opts.ClusterName, provisioner.Name),
+				}
+
+				pod := ExpectProvisioned(ctx, env.Client, selectionController, provisioners, ProvisionerWithProvider(provisioner, provider), test.UnschedulablePod())[0]
+				ExpectScheduled(ctx, env.Client, pod)
+				Expect(fakeEC2API.CalledWithCreateFleetInput.Cardinality()).To(Equal(1))
+				createFleetInput := fakeEC2API.CalledWithCreateFleetInput.Pop().(*ec2.CreateFleetInput)
+				Expect(createFleetInput.TagSpecifications).To(HaveLen(3))
+
+				// default tags should be included in the Instance specification
+				Expect(*createFleetInput.TagSpecifications[0].ResourceType).To(Equal(ec2.ResourceTypeInstance))
+				ExpectTags(createFleetInput.TagSpecifications[0].Tags, defaultTags)
+				// default tags should be included in the Volume specification
+				Expect(*createFleetInput.TagSpecifications[1].ResourceType).To(Equal(ec2.ResourceTypeVolume))
+				ExpectTags(createFleetInput.TagSpecifications[1].Tags, defaultTags)
+
+				Expect(fakeEC2API.CalledWithCreateLaunchTemplateInput.Cardinality()).To(Equal(1))
+				createLaunchTemplateInput := fakeEC2API.CalledWithCreateLaunchTemplateInput.Pop().(*ec2.CreateLaunchTemplateInput)
+				// default tags should be included in the LaunchTemplate specification
+				Expect(*createLaunchTemplateInput.TagSpecifications[0].ResourceType).To(Equal(ec2.ResourceTypeLaunchTemplate))
+				ExpectTags(createLaunchTemplateInput.TagSpecifications[0].Tags, defaultTags)
 			})
 
 			It("should default to a generated launch template", func() {
@@ -533,6 +568,26 @@ var _ = Describe("Allocation", func() {
 				Expect(*launchTemplate.Version).To(Equal("$Latest"))
 			})
 		})
+		Context("Fleets", func() {
+			It("should have default tags applied", func() {
+				// default tags applied to all created resources
+				defaultTags := map[string]string{
+					v1alpha5.ProvisionerNameLabelKey: provisioner.Name,
+					fmt.Sprintf("karpenter.sh/cluster/%s", opts.ClusterName): "owned",
+					fmt.Sprintf("kubernetes.io/cluster/%s", opts.ClusterName): "owned",
+					"Name": fmt.Sprintf("karpenter.sh/cluster/%s/provisioner/%s", opts.ClusterName, provisioner.Name),
+				}
+
+				pod := ExpectProvisioned(ctx, env.Client, selectionController, provisioners, ProvisionerWithProvider(provisioner, provider), test.UnschedulablePod())[0]
+				ExpectScheduled(ctx, env.Client, pod)
+				Expect(fakeEC2API.CalledWithCreateFleetInput.Cardinality()).To(Equal(1))
+				createFleetInput := fakeEC2API.CalledWithCreateFleetInput.Pop().(*ec2.CreateFleetInput)
+
+				// default tags should be included in the fleet tag specifications
+				Expect(*createFleetInput.TagSpecifications[2].ResourceType).To(Equal(ec2.ResourceTypeFleet))
+				ExpectTags(createFleetInput.TagSpecifications[2].Tags, defaultTags)
+			})
+		})
 		Context("Subnets", func() {
 			It("should default to the cluster's subnets", func() {
 				pod := ExpectProvisioned(ctx, env.Client, selectionController, provisioners, ProvisionerWithProvider(provisioner, provider), test.UnschedulablePod())[0]