diff --git a/cmd/bucket-lifecycle.go b/cmd/bucket-lifecycle.go
index 48fb59460..d34cec431 100644
--- a/cmd/bucket-lifecycle.go
+++ b/cmd/bucket-lifecycle.go
@@ -1,4 +1,4 @@
-// Copyright (c) 2015-2021 MinIO, Inc.
+// Copyright (c) 2015-2024 MinIO, Inc.
 //
 // This file is part of MinIO Object Storage stack
 //
@@ -374,7 +374,7 @@ func (es *expiryState) Worker(input <-chan expiryOp) {
 }
 
 func initBackgroundExpiry(ctx context.Context, objectAPI ObjectLayer) {
-	globalExpiryState = newExpiryState(ctx, objectAPI, globalAPIConfig.getExpiryWorkers())
+	globalExpiryState = newExpiryState(ctx, objectAPI, globalILMConfig.getExpirationWorkers())
 }
 
 // newerNoncurrentTask encapsulates arguments required by worker to expire objects
@@ -438,6 +438,10 @@ func newTransitionState(ctx context.Context) *transitionState {
 // of transition workers.
 func (t *transitionState) Init(objAPI ObjectLayer) {
 	n := globalAPIConfig.getTransitionWorkers()
+	// Prefer ilm.transition_workers over now deprecated api.transition_workers
+	if tw := globalILMConfig.getTransitionWorkers(); tw > 0 {
+		n = tw
+	}
 	t.mu.Lock()
 	defer t.mu.Unlock()
 
diff --git a/cmd/config-current.go b/cmd/config-current.go
index 852f859d3..d84d823bf 100644
--- a/cmd/config-current.go
+++ b/cmd/config-current.go
@@ -725,15 +725,11 @@ func applyDynamicConfigForSubSys(ctx context.Context, objAPI ObjectLayer, s conf
 		}
 		if globalTransitionState != nil {
 			globalTransitionState.UpdateWorkers(ilmCfg.TransitionWorkers)
-		} else {
-			logger.LogIf(ctx, fmt.Errorf("ILM transition subsystem not initialized"))
 		}
 		if globalExpiryState != nil {
 			globalExpiryState.ResizeWorkers(ilmCfg.ExpirationWorkers)
-		} else {
-			logger.LogIf(ctx, fmt.Errorf("ILM expiration subsystem not initialized"))
 		}
-
+		globalILMConfig.update(ilmCfg)
 	}
 	globalServerConfigMu.Lock()
 	defer globalServerConfigMu.Unlock()
diff --git a/cmd/handler-api.go b/cmd/handler-api.go
index 7b203ff2c..f5ac8265f 100644
--- a/cmd/handler-api.go
+++ b/cmd/handler-api.go
@@ -47,7 +47,6 @@ type apiConfig struct {
 	replicationPriority   string
 	replicationMaxWorkers int
 	transitionWorkers     int
-	expiryWorkers         int
 
 	staleUploadsExpiry          time.Duration
 	staleUploadsCleanupInterval time.Duration
@@ -368,13 +367,6 @@ func (t *apiConfig) getReplicationOpts() replicationPoolOpts {
 	}
 }
 
-func (t *apiConfig) getExpiryWorkers() int {
-	t.mu.RLock()
-	defer t.mu.RUnlock()
-
-	return t.expiryWorkers
-}
-
 func (t *apiConfig) getTransitionWorkers() int {
 	t.mu.RLock()
 	defer t.mu.RUnlock()
diff --git a/cmd/ilm-config.go b/cmd/ilm-config.go
new file mode 100644
index 000000000..83e7e305b
--- /dev/null
+++ b/cmd/ilm-config.go
@@ -0,0 +1,57 @@
+// Copyright (c) 2015-2024 MinIO, Inc.
+//
+// This file is part of MinIO Object Storage stack
+//
+// This program is free software: you can redistribute it and/or modify
+// it under the terms of the GNU Affero General Public License as published by
+// the Free Software Foundation, either version 3 of the License, or
+// (at your option) any later version.
+//
+// This program is distributed in the hope that it will be useful
+// but WITHOUT ANY WARRANTY; without even the implied warranty of
+// MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.  See the
+// GNU Affero General Public License for more details.
+//
+// You should have received a copy of the GNU Affero General Public License
+// along with this program.  If not, see <http://www.gnu.org/licenses/>.
+
+package cmd
+
+import (
+	"sync"
+
+	"github.com/minio/minio/internal/config/ilm"
+)
+
+var globalILMConfig = ilmConfig{
+	cfg: ilm.Config{
+		ExpirationWorkers: 100,
+		TransitionWorkers: 100,
+	},
+}
+
+type ilmConfig struct {
+	mu  sync.RWMutex
+	cfg ilm.Config
+}
+
+func (c *ilmConfig) getExpirationWorkers() int {
+	c.mu.RLock()
+	defer c.mu.RUnlock()
+
+	return c.cfg.ExpirationWorkers
+}
+
+func (c *ilmConfig) getTransitionWorkers() int {
+	c.mu.RLock()
+	defer c.mu.RUnlock()
+
+	return c.cfg.TransitionWorkers
+}
+
+func (c *ilmConfig) update(cfg ilm.Config) {
+	c.mu.Lock()
+	defer c.mu.Unlock()
+
+	c.cfg = cfg
+}
diff --git a/internal/config/api/api.go b/internal/config/api/api.go
index d2f4ef443..ad57e2db0 100644
--- a/internal/config/api/api.go
+++ b/internal/config/api/api.go
@@ -41,7 +41,6 @@ const (
 	apiReplicationMaxWorkers   = "replication_max_workers"
 
 	apiTransitionWorkers           = "transition_workers"
-	apiExpiryWorkers               = "expiry_workers"
 	apiStaleUploadsCleanupInterval = "stale_uploads_cleanup_interval"
 	apiStaleUploadsExpiry          = "stale_uploads_expiry"
 	apiDeleteCleanupInterval       = "delete_cleanup_interval"
@@ -57,7 +56,6 @@ const (
 	EnvAPICorsAllowOrigin             = "MINIO_API_CORS_ALLOW_ORIGIN"
 	EnvAPIRemoteTransportDeadline     = "MINIO_API_REMOTE_TRANSPORT_DEADLINE"
 	EnvAPITransitionWorkers           = "MINIO_API_TRANSITION_WORKERS"
-	EnvAPIExpiryWorkers               = "MINIO_API_EXPIRY_WORKERS"
 	EnvAPIListQuorum                  = "MINIO_API_LIST_QUORUM"
 	EnvAPISecureCiphers               = "MINIO_API_SECURE_CIPHERS" // default config.EnableOn
 	EnvAPIReplicationPriority         = "MINIO_API_REPLICATION_PRIORITY"
@@ -119,10 +117,6 @@ var (
 			Key:   apiTransitionWorkers,
 			Value: "100",
 		},
-		config.KV{
-			Key:   apiExpiryWorkers,
-			Value: "100",
-		},
 		config.KV{
 			Key:   apiStaleUploadsCleanupInterval,
 			Value: "6h",
@@ -288,15 +282,6 @@ func LookupConfig(kvs config.KVS) (cfg Config, err error) {
 	}
 	cfg.TransitionWorkers = transitionWorkers
 
-	expiryWorkers, err := strconv.Atoi(env.Get(EnvAPIExpiryWorkers, kvs.GetWithDefault(apiExpiryWorkers, DefaultKVS)))
-	if err != nil {
-		return cfg, err
-	}
-	if expiryWorkers <= 0 || expiryWorkers > 500 {
-		return cfg, config.ErrInvalidExpiryWorkersValue(nil).Msg("Number of expiry workers should be between 1 and 500")
-	}
-	cfg.ExpiryWorkers = expiryWorkers
-
 	v := env.Get(EnvAPIDeleteCleanupInterval, kvs.Get(apiDeleteCleanupInterval))
 	if v == "" {
 		v = env.Get(EnvDeleteCleanupInterval, kvs.GetWithDefault(apiDeleteCleanupInterval, DefaultKVS))
diff --git a/internal/config/api/help.go b/internal/config/api/help.go
index c359c2770..967f56404 100644
--- a/internal/config/api/help.go
+++ b/internal/config/api/help.go
@@ -80,12 +80,6 @@ var (
 			Optional:    true,
 			Type:        "number",
 		},
-		config.HelpKV{
-			Key:         apiExpiryWorkers,
-			Description: `set the number of expiry workers` + defaultHelpPostfix(apiExpiryWorkers),
-			Optional:    true,
-			Type:        "number",
-		},
 		config.HelpKV{
 			Key:         apiStaleUploadsExpiry,
 			Description: `set to expire stale multipart uploads older than this values` + defaultHelpPostfix(apiStaleUploadsExpiry),