diff --git a/docs/CHANGELOG.md b/docs/CHANGELOG.md
index 7c16d44a1..646db5dfc 100644
--- a/docs/CHANGELOG.md
+++ b/docs/CHANGELOG.md
@@ -42,6 +42,7 @@ The following `tip` changes can be tested by building VictoriaMetrics components
 * FEATURE: [Official Grafana dashboards for VictoriaMetrics](https://grafana.com/orgs/victoriametrics): correctly calculate `Bytes per point` value for single-server and cluster VM dashboards. Before, the calculation mistakenly accounted for the number of entries in indexdb in denominator, which could have shown lower values than expected.
 * FEATURE: [Alerting rules for VictoriaMetrics](https://github.com/VictoriaMetrics/VictoriaMetrics/tree/master/deployment/docker#alerts): `ConcurrentFlushesHitTheLimit` alerting rule was moved from [single-server](https://github.com/VictoriaMetrics/VictoriaMetrics/blob/master/deployment/docker/alerts.yml) and [cluster](https://github.com/VictoriaMetrics/VictoriaMetrics/blob/master/deployment/docker/alerts-cluster.yml) alerts to the [list of "health" alerts](https://github.com/VictoriaMetrics/VictoriaMetrics/blob/master/deployment/docker/alerts-health.yml) as it could be related to many VictoriaMetrics components. 
 
+* BUGFIX: [vmagent](https://docs.victoriametrics.com/vmagent.html): properly apply `if` filters during [relabeling](https://docs.victoriametrics.com/vmagent.html#relabeling-enhancements). Previously the `if` filter could improperly work. See [this issue](https://github.com/VictoriaMetrics/VictoriaMetrics/issues/4806) and [this pull request](https://github.com/VictoriaMetrics/VictoriaMetrics/pull/4816).
 * BUGFIX: [vmagent](https://docs.victoriametrics.com/vmagent.html): use local scrape timestamps for the scraped metrics unless `honor_timestamps: true` option is explicitly set at [scrape_config](https://docs.victoriametrics.com/sd_configs.html#scrape_configs). This fixes gaps for metrics collected from [cadvisor](https://github.com/google/cadvisor) or similar exporters, which export metrics with invalid timestamps. See [this issue](https://github.com/VictoriaMetrics/VictoriaMetrics/issues/4697) and [this comment](https://github.com/VictoriaMetrics/VictoriaMetrics/issues/4697#issuecomment-1654614799) for details. The issue has been introduced in [v1.68.0](#v1680).
 * BUGFIX: [vmalert](https://docs.victoriametrics.com/vmalert.html): properly set `vmalert_config_last_reload_successful` value on configuration updates or rollbacks. The bug was introduced in [v1.92.0](https://github.com/VictoriaMetrics/VictoriaMetrics/releases/tag/v1.92.0) in [this PR](https://github.com/VictoriaMetrics/VictoriaMetrics/pull/4543).
 * BUGFIX: [vmalert](https://docs.victoriametrics.com/vmalert.html): fix `vmalert_remotewrite_send_duration_seconds_total` value, before it didn't count in the real time spending on remote write requests. See [this pr](https://github.com/VictoriaMetrics/VictoriaMetrics/pull/4801) for details.
diff --git a/lib/promrelabel/relabel.go b/lib/promrelabel/relabel.go
index 35a47e74d..c6c17b4c9 100644
--- a/lib/promrelabel/relabel.go
+++ b/lib/promrelabel/relabel.go
@@ -158,7 +158,7 @@ func FinalizeLabels(dst, src []prompbmarshal.Label) []prompbmarshal.Label {
 // See https://prometheus.io/docs/prometheus/latest/configuration/configuration/#relabel_config
 func (prc *parsedRelabelConfig) apply(labels []prompbmarshal.Label, labelsOffset int) []prompbmarshal.Label {
 	src := labels[labelsOffset:]
-	if !prc.If.Match(labels) {
+	if !prc.If.Match(src) {
 		if prc.Action == "keep" {
 			// Drop the target on `if` mismatch for `action: keep`
 			return labels[:labelsOffset]
diff --git a/lib/promrelabel/relabel_test.go b/lib/promrelabel/relabel_test.go
index a71bb5a6c..987374252 100644
--- a/lib/promrelabel/relabel_test.go
+++ b/lib/promrelabel/relabel_test.go
@@ -915,3 +915,49 @@ func newTestRegexRelabelConfig(pattern string) *parsedRelabelConfig {
 	}
 	return prc
 }
+
+func TestParsedRelabelConfigsApplyForMultipleSeries(t *testing.T) {
+	f := func(config string, metrics []string, resultExpected []string) {
+		t.Helper()
+		pcs, err := ParseRelabelConfigsData([]byte(config))
+		if err != nil {
+			t.Fatalf("cannot parse %q: %s", config, err)
+		}
+
+		totalLabels := 0
+		var labels []prompbmarshal.Label
+		for _, metric := range metrics {
+			labels = append(labels, promutils.MustNewLabelsFromString(metric).GetLabels()...)
+			resultLabels := pcs.Apply(labels, totalLabels)
+			SortLabels(resultLabels)
+			totalLabels += len(resultLabels)
+			labels = resultLabels
+		}
+
+		var result []string
+		for i := range labels {
+			result = append(result, LabelsToString(labels[i:i+1]))
+		}
+
+		if len(result) != len(resultExpected) {
+			t.Fatalf("unexpected number of results; got\n%q\nwant\n%q", result, resultExpected)
+		}
+
+		for i := range result {
+			if result[i] != resultExpected[i] {
+				t.Fatalf("unexpected result[%d]; got\n%q\nwant\n%q", i, result[i], resultExpected[i])
+			}
+		}
+	}
+
+	t.Run("drops one of series", func(t *testing.T) {
+		f(`
+- action: drop
+  if: '{__name__!~"smth"}' 
+`, []string{`smth`, `notthis`}, []string{`smth`})
+		f(`
+- action: drop
+  if: '{__name__!~"smth"}'
+`, []string{`notthis`, `smth`}, []string{`smth`})
+	})
+}