diff --git a/code/lib/preview-api/src/modules/store/csf/prepareStory.test.ts b/code/lib/preview-api/src/modules/store/csf/prepareStory.test.ts
index a84c5796b8ce..4ce62b94277b 100644
--- a/code/lib/preview-api/src/modules/store/csf/prepareStory.test.ts
+++ b/code/lib/preview-api/src/modules/store/csf/prepareStory.test.ts
@@ -2,13 +2,7 @@
 
 import { global } from '@storybook/global';
 import { expect } from '@jest/globals';
-import type {
-  Renderer,
-  ArgsEnhancer,
-  PlayFunctionContext,
-  SBObjectType,
-  SBScalarType,
-} from '@storybook/types';
+import type { Renderer, ArgsEnhancer, PlayFunctionContext, SBScalarType } from '@storybook/types';
 import { addons, HooksContext } from '../../addons';
 
 import { NO_TARGET_NAME } from '../args';
@@ -32,20 +26,6 @@ const moduleExport = {};
 const stringType: SBScalarType = { name: 'string' };
 const numberType: SBScalarType = { name: 'number' };
 const booleanType: SBScalarType = { name: 'boolean' };
-const complexType: SBObjectType = {
-  name: 'object',
-  value: {
-    complex: {
-      name: 'object',
-      value: {
-        object: {
-          name: 'array',
-          value: { name: 'string' },
-        },
-      },
-    },
-  },
-};
 
 beforeEach(() => {
   global.FEATURES = { breakingChangesV7: true };
@@ -195,44 +175,6 @@ describe('prepareStory', () => {
       expect(initialArgs).toEqual({});
     });
 
-    it('are initialized to argTypes[x].defaultValue if unset', () => {
-      const { initialArgs } = prepareStory(
-        {
-          id,
-          name,
-          args: {
-            arg2: 3,
-            arg4: 'foo',
-            arg7: false,
-          },
-          argTypes: {
-            arg1: { name: 'arg1', type: stringType, defaultValue: 'arg1' },
-            arg2: { name: 'arg2', type: numberType, defaultValue: 2 },
-            arg3: {
-              name: 'arg3',
-              type: complexType,
-              defaultValue: { complex: { object: ['type'] } },
-            },
-            arg4: { name: 'arg4', type: stringType },
-            arg5: { name: 'arg5', type: stringType },
-            arg6: { name: 'arg6', type: numberType, defaultValue: 0 }, // See https://github.com/storybookjs/storybook/issues/12767 }
-          },
-          moduleExport,
-        },
-        { id, title },
-        { render: () => {} }
-      );
-
-      expect(initialArgs).toEqual({
-        arg1: 'arg1',
-        arg2: 3,
-        arg3: { complex: { object: ['type'] } },
-        arg4: 'foo',
-        arg6: 0,
-        arg7: false,
-      });
-    });
-
     describe('argsEnhancers', () => {
       it('are applied in the right order', () => {
         const run: number[] = [];
diff --git a/code/lib/preview-api/src/modules/store/csf/prepareStory.ts b/code/lib/preview-api/src/modules/store/csf/prepareStory.ts
index 9398a8ee084e..cb6cff8467e0 100644
--- a/code/lib/preview-api/src/modules/store/csf/prepareStory.ts
+++ b/code/lib/preview-api/src/modules/store/csf/prepareStory.ts
@@ -1,5 +1,3 @@
-import { dedent } from 'ts-dedent';
-import deprecate from 'util-deprecate';
 import { global } from '@storybook/global';
 
 import type {
@@ -28,15 +26,6 @@ import { applyHooks } from '../../addons';
 import { combineParameters } from '../parameters';
 import { defaultDecorateStory } from '../decorators';
 import { groupArgsByTarget, NO_TARGET_NAME } from '../args';
-import { getValuesFromArgTypes } from './getValuesFromArgTypes';
-
-const argTypeDefaultValueWarning = deprecate(
-  () => {},
-  dedent`
-  \`argType.defaultValue\` is deprecated and will be removed in Storybook 7.0.
-
-  https://github.com/storybookjs/storybook/blob/next/MIGRATION.md#no-longer-inferring-default-values-of-args`
-);
 
 // Combine all the metadata about a story (both direct and inherited from the component/global scope)
 // into a "renderable" story function, with all decorators applied, parameters passed as context etc
@@ -234,15 +223,7 @@ function preparePartialAnnotations<TRenderer extends Renderer>(
     contextForEnhancers.argTypes
   );
 
-  // Add argTypes[X].defaultValue to initial args (note this deprecated)
-  // We need to do this *after* the argTypesEnhancers as they may add defaultValues
-  const defaultArgs = getValuesFromArgTypes(contextForEnhancers.argTypes);
-
-  if (Object.keys(defaultArgs).length > 0) {
-    argTypeDefaultValueWarning();
-  }
-
-  const initialArgsBeforeEnhancers = { ...defaultArgs, ...passedArgs };
+  const initialArgsBeforeEnhancers = { ...passedArgs };
 
   contextForEnhancers.initialArgs = argsEnhancers.reduce(
     (accumulatedArgs: Args, enhancer) => ({
diff --git a/code/renderers/react/src/__test__/__snapshots__/internals.test.tsx.snap b/code/renderers/react/src/__test__/__snapshots__/internals.test.tsx.snap
index dcd51c8244fb..4507f513248b 100644
--- a/code/renderers/react/src/__test__/__snapshots__/internals.test.tsx.snap
+++ b/code/renderers/react/src/__test__/__snapshots__/internals.test.tsx.snap
@@ -5,7 +5,6 @@ exports[`Renders CSF2Secondary story 1`] = `
   <div>
     <button
       class="storybook-button storybook-button--medium storybook-button--secondary"
-      label="Button"
       type="button"
     >
       Children coming from story args!
@@ -32,7 +31,6 @@ exports[`Renders CSF2StoryWithParamsAndDecorator story 1`] = `
   <div>
     <button
       class="storybook-button storybook-button--medium storybook-button--secondary"
-      label="Button"
       type="button"
     >
       foo
@@ -46,7 +44,6 @@ exports[`Renders CSF3Button story 1`] = `
   <div>
     <button
       class="storybook-button storybook-button--medium storybook-button--secondary"
-      label="Button"
       type="button"
     >
       foo
@@ -66,7 +63,6 @@ exports[`Renders CSF3ButtonWithRender story 1`] = `
       </p>
       <button
         class="storybook-button storybook-button--medium storybook-button--secondary"
-        label="Button"
         type="button"
       >
         foo
@@ -91,7 +87,6 @@ exports[`Renders CSF3Primary story 1`] = `
   <div>
     <button
       class="storybook-button storybook-button--large storybook-button--primary"
-      label="Button"
       type="button"
     >
       foo
diff --git a/code/renderers/react/src/__test__/internals.test.tsx b/code/renderers/react/src/__test__/internals.test.tsx
index 40cdb069f492..9f5a05b993d9 100644
--- a/code/renderers/react/src/__test__/internals.test.tsx
+++ b/code/renderers/react/src/__test__/internals.test.tsx
@@ -13,7 +13,6 @@ const { CSF2StoryWithParamsAndDecorator } = composeStories(stories);
 test('returns composed args including default values from argtypes', () => {
   expect(CSF2StoryWithParamsAndDecorator.args).toEqual({
     ...stories.CSF2StoryWithParamsAndDecorator.args,
-    label: stories.default.argTypes!.label!.defaultValue,
   });
 });
 
diff --git a/code/renderers/vue3/template/stories/OverrideArgs.stories.js b/code/renderers/vue3/template/stories/OverrideArgs.stories.js
index ab7b9f80a623..2d411d8b7f97 100644
--- a/code/renderers/vue3/template/stories/OverrideArgs.stories.js
+++ b/code/renderers/vue3/template/stories/OverrideArgs.stories.js
@@ -20,13 +20,12 @@ export default {
         type: 'select',
         options: Object.keys(icons),
       },
-      defaultValue: 'Primary',
     },
   },
   render: (args) => {
     // Individual properties can be overridden by spreading the args
     // and the replacing the key-values that need to be updated
-    args = { ...args, icon: icons[args.icon] }; // eslint-disable-line no-param-reassign
+    args = { ...args, icon: icons[args.icon || 'Primary'] }; // eslint-disable-line no-param-reassign
     return {
       // Components used in your story `template` are defined in the `components` object
       components: { OverrideArgs },