diff --git a/holoviews/plotting/bokeh/__init__.py b/holoviews/plotting/bokeh/__init__.py
index bb723578d3..24d667ba1a 100644
--- a/holoviews/plotting/bokeh/__init__.py
+++ b/holoviews/plotting/bokeh/__init__.py
@@ -205,7 +205,7 @@ def colormap_generator(palette):
 options.VSpan = Options('style', color=Cycle(), alpha=0.5)
 options.HSpan = Options('style', color=Cycle(), alpha=0.5)
 options.Arrow = Options('style', arrow_size=10)
-options.Labels = Options('style', text_align='center', text_baseline='middle')
+options.Labels = Options('style', text_color=Cycle(), text_align='center', text_baseline='middle')
 
 # Graphs
 options.Graph = Options(
diff --git a/holoviews/plotting/mpl/__init__.py b/holoviews/plotting/mpl/__init__.py
index a19e12b884..cf64021bab 100644
--- a/holoviews/plotting/mpl/__init__.py
+++ b/holoviews/plotting/mpl/__init__.py
@@ -271,6 +271,7 @@ def grid_selector(grid):
 options.VSpan = Options('style', alpha=0.5, facecolor=Cycle())
 options.HSpan = Options('style', alpha=0.5, facecolor=Cycle())
 options.Spline = Options('style', edgecolor=Cycle())
+options.Labels = Options('style', color=Cycle())
 
 options.Arrow = Options('style', color='k', linewidth=2, textsize=13)
 # Paths
diff --git a/holoviews/plotting/plotly/__init__.py b/holoviews/plotting/plotly/__init__.py
index aff36fb46f..e95b9cfca4 100644
--- a/holoviews/plotting/plotly/__init__.py
+++ b/holoviews/plotting/plotly/__init__.py
@@ -136,6 +136,7 @@
 # Annotations
 options.VSpan = Options('style', fillcolor=Cycle(), opacity=0.5)
 options.HSpan = Options('style', fillcolor=Cycle(), opacity=0.5)
+options.Labels = Options('style', color=Cycle())
 
 # Shapes
 options.Rectangles = Options('style', line_color=dflt_shape_line_color)
diff --git a/holoviews/tests/plotting/bokeh/test_labels.py b/holoviews/tests/plotting/bokeh/test_labels.py
index 565f4807c8..ffdc2f15f1 100644
--- a/holoviews/tests/plotting/bokeh/test_labels.py
+++ b/holoviews/tests/plotting/bokeh/test_labels.py
@@ -2,7 +2,9 @@
 
 from holoviews.core.dimension import Dimension
 from holoviews.element import Labels
+from holoviews.core.spaces import HoloMap
 from holoviews.plotting.bokeh.util import property_to_dict
+from holoviews.core.options import Cycle
 
 from bokeh.models import LinearColorMapper, CategoricalColorMapper
 
@@ -186,3 +188,12 @@ def test_labels_color_index_color_clash(self):
             "color_index.\n"
         )
         self.assertEqual(log_msg, warning)
+
+    def test_labels_text_color_cycle(self):
+        hm = HoloMap(
+            {i: Labels([
+                (0, 0 + i, "Label 1"),
+                (1, 1 + i, "Label 2")
+            ]) for i in range(3)}
+        ).overlay()
+        assert isinstance(hm[0].opts["text_color"], Cycle)
diff --git a/holoviews/tests/plotting/matplotlib/test_labels.py b/holoviews/tests/plotting/matplotlib/test_labels.py
index 040f31e4a7..4ae9c4a78f 100644
--- a/holoviews/tests/plotting/matplotlib/test_labels.py
+++ b/holoviews/tests/plotting/matplotlib/test_labels.py
@@ -3,6 +3,7 @@
 from holoviews.core.dimension import Dimension
 from holoviews.core.spaces import HoloMap
 from holoviews.element import Labels
+from holoviews.core.options import Cycle
 from holoviews.plotting.util import rgb2hex
 
 from .test_plot import TestMPLPlot, mpl_renderer
@@ -171,3 +172,12 @@ def test_label_rotation_op_update(self):
         artist = plot.handles['artist']
         self.assertEqual([a.get_rotation() for a in artist],
                          [30, 120, 60])
+
+    def test_labels_text_color_cycle(self):
+        hm = HoloMap(
+            {i: Labels([
+                (0, 0 + i, "Label 1"),
+                (1, 1 + i, "Label 2")
+            ]) for i in range(3)}
+        ).overlay()
+        assert isinstance(hm[0].opts["color"], Cycle)
diff --git a/holoviews/tests/plotting/plotly/test_labelplot.py b/holoviews/tests/plotting/plotly/test_labelplot.py
index bf66aa66f5..6c510001ed 100644
--- a/holoviews/tests/plotting/plotly/test_labelplot.py
+++ b/holoviews/tests/plotting/plotly/test_labelplot.py
@@ -1,6 +1,8 @@
 import numpy as np
 
 from holoviews.element import Labels, Tiles
+from holoviews.core.options import Cycle
+from holoviews.core.spaces import HoloMap
 
 from .test_plot import TestPlotlyPlot
 
@@ -132,3 +134,12 @@ def test_visible(self):
         element = Tiles("") * Labels([(0, 3, 0), (1, 2, 1), (2, 1, 1)]).opts(visible=False)
         state = self._get_plot_state(element)
         self.assertEqual(state['data'][1]['visible'], False)
+
+    def test_labels_text_color_cycle(self):
+        hm = HoloMap(
+            {i: Labels([
+                (0, 0 + i, "Label 1"),
+                (1, 1 + i, "Label 2")
+            ]) for i in range(3)}
+        ).overlay()
+        assert isinstance(hm[0].opts["color"], Cycle)