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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsCash" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DividendsCash"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsCash" xlink:to="lab_us-gaap_DividendsCash" xlink:type="arc" order="1"/>
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    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_label_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:to="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestments_295de601-ac21-4e1f-bc58-1ef95654f9b9_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity method investments</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestments_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EquityMethodInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestments" xlink:to="lab_us-gaap_EquityMethodInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount_152b622e-f2af-4114-9457-7b0d33907ddb_terseLabel_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redeemable non-controlling interests</link:label>
    <link:label id="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount_39f7f928-4f8c-4b40-8062-b9b1b8f516b6_periodStartLabel_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balances attributable to redeemable non-controlling interests</link:label>
    <link:label id="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount_9cdae330-a7d0-469b-94f3-f943ded9e5ee_periodEndLabel_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balances attributable to redeemable non-controlling interests</link:label>
    <link:label id="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount_0be5818f-a099-484e-9202-c131e9bf8cff_verboseLabel_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Attributable to redeemable non-controlling interests</link:label>
    <link:label id="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount_label_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redeemable Noncontrolling Interest, Equity, Carrying Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount" xlink:to="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IntangibleAssetsNetIncludingGoodwill_bdc0bb5e-2428-4ae3-8168-7f7e0ff98f20_terseLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetIncludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_IntangibleAssetsNetIncludingGoodwill_label_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetIncludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Assets, Net (Including Goodwill)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IntangibleAssetsNetIncludingGoodwill" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IntangibleAssetsNetIncludingGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IntangibleAssetsNetIncludingGoodwill" xlink:to="lab_us-gaap_IntangibleAssetsNetIncludingGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_2cdb4bde-2326-426f-b2d2-edf781da40fb_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FAIR VALUE MEASUREMENTS</link:label>
    <link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueDisclosuresTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FairValueDisclosuresTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresTextBlock" xlink:to="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTax_5e023f10-021f-4b65-af19-3fe5ee557d18_totalLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income (loss) before income taxes</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), before Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OtherComprehensiveIncomeLossBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossBeforeTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_ec728617-a479-4b56-ad14-efa003ea6f03_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other changes in assets and liabilities</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Assets and Liabilities, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_EquityMethodInvesteeNameDomain_b0037b41-3b33-4086-89cd-8226423d7110_terseLabel_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment, Name [Domain]</link:label>
    <link:label id="lab_srt_EquityMethodInvesteeNameDomain_label_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_EquityMethodInvesteeNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_EquityMethodInvesteeNameDomain" xlink:to="lab_srt_EquityMethodInvesteeNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_81d57fa9-b9d8-46cc-b344-f93758fa9538_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:type="arc" order="1"/>
    <link:label id="lab_trow_FixedIncomeIncludingMoneyMarketMember_5f96ac73-441a-4d11-84bc-dff0002f4d68_terseLabel_en-US" xlink:label="lab_trow_FixedIncomeIncludingMoneyMarketMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed income, including money market</link:label>
    <link:label id="lab_trow_FixedIncomeIncludingMoneyMarketMember_label_en-US" xlink:label="lab_trow_FixedIncomeIncludingMoneyMarketMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixed Income, Including Money Market [Member]</link:label>
    <link:label id="lab_trow_FixedIncomeIncludingMoneyMarketMember_documentation_en-US" xlink:label="lab_trow_FixedIncomeIncludingMoneyMarketMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fixed Income, Including Money Market [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_FixedIncomeIncludingMoneyMarketMember" xlink:href="trow-20240630.xsd#trow_FixedIncomeIncludingMoneyMarketMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_trow_FixedIncomeIncludingMoneyMarketMember" xlink:to="lab_trow_FixedIncomeIncludingMoneyMarketMember" xlink:type="arc" order="1"/>
    <link:label id="lab_trow_IncreaseDecreaseInTradingSecuritiesConsolidatedSponsoredInvestmentPortfolios_7e99e3b0-37b3-4ce8-98c6-7bcb9e7f9680_negatedLabel_en-US" xlink:label="lab_trow_IncreaseDecreaseInTradingSecuritiesConsolidatedSponsoredInvestmentPortfolios" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net change in securities held by consolidated sponsored investment products</link:label>
    <link:label id="lab_trow_IncreaseDecreaseInTradingSecuritiesConsolidatedSponsoredInvestmentPortfolios_label_en-US" xlink:label="lab_trow_IncreaseDecreaseInTradingSecuritiesConsolidatedSponsoredInvestmentPortfolios" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) In Trading Securities, Consolidated Sponsored Investment Portfolios</link:label>
    <link:label id="lab_trow_IncreaseDecreaseInTradingSecuritiesConsolidatedSponsoredInvestmentPortfolios_documentation_en-US" xlink:label="lab_trow_IncreaseDecreaseInTradingSecuritiesConsolidatedSponsoredInvestmentPortfolios" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Trading Securities, Consolidated Sponsored Investment Portfolios</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_IncreaseDecreaseInTradingSecuritiesConsolidatedSponsoredInvestmentPortfolios" xlink:href="trow-20240630.xsd#trow_IncreaseDecreaseInTradingSecuritiesConsolidatedSponsoredInvestmentPortfolios"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_trow_IncreaseDecreaseInTradingSecuritiesConsolidatedSponsoredInvestmentPortfolios" xlink:to="lab_trow_IncreaseDecreaseInTradingSecuritiesConsolidatedSponsoredInvestmentPortfolios" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_687ea236-dd9a-449e-a893-89dc183acbd3_terseLabel_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_label_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityTaxIdentificationNumber" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityTaxIdentificationNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityTaxIdentificationNumber" xlink:to="lab_dei_EntityTaxIdentificationNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent_2320348a-0f43-4cd2-9d7e-1aa8b7bc3f30_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued compensation and related costs</link:label>
    <link:label id="lab_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee-related Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent" xlink:to="lab_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_c3f7d9fd-5c22-4a47-be60-297366e03c49_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Finite-Lived Intangible Assets [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:to="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SecuredDebt_6b43157c-22db-4839-b961-f3cd4670725a_terseLabel_en-US" xlink:label="lab_us-gaap_SecuredDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured debt</link:label>
    <link:label id="lab_us-gaap_SecuredDebt_label_en-US" xlink:label="lab_us-gaap_SecuredDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuredDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SecuredDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredDebt" xlink:to="lab_us-gaap_SecuredDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MoneyMarketFundsMember_2baffae1-8bdb-4c93-9c64-4cabdc5cf0c6_terseLabel_en-US" xlink:label="lab_us-gaap_MoneyMarketFundsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Money Market Funds</link:label>
    <link:label id="lab_us-gaap_MoneyMarketFundsMember_label_en-US" xlink:label="lab_us-gaap_MoneyMarketFundsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Money Market Funds [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MoneyMarketFundsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_MoneyMarketFundsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MoneyMarketFundsMember" xlink:to="lab_us-gaap_MoneyMarketFundsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_trow_AmortizationOfAcquisitionRelatedAssetsAndRetentionArrangements_f4476596-4117-4db6-a357-7dec2835b833_terseLabel_en-US" xlink:label="lab_trow_AmortizationOfAcquisitionRelatedAssetsAndRetentionArrangements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization and impairment of acquisition-related assets and retention arrangements</link:label>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_7e43a3ea-6572-459c-b14d-f8ceb0e6cd52_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by operating activities</link:label>
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    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTax_1f6900cd-b89a-4c6b-924a-c6fbd2ec8f72_totalLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total comprehensive income attributable to T. Rowe Price Group</link:label>
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    <link:label id="lab_us-gaap_SecuredDebtRepurchaseAgreements_45b15233-07e9-422a-844f-ccf2f4dc92c9_terseLabel_en-US" xlink:label="lab_us-gaap_SecuredDebtRepurchaseAgreements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured debt, repurchase agreements</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable"/>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_290a69dd-9d04-489d-bedb-b8de5675a1b5_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from investing activities</link:label>
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    <link:label id="lab_us-gaap_EquityMethodInvesteeMember_dacf5335-af03-47cd-b008-00eb2c525107_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvesteeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity method investments</link:label>
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    <link:label id="lab_trow_SponsoredInvestmentPortfoliosDiscretionaryInvestmentsMember_f949c186-821d-45b1-8aca-548358f86cd7_terseLabel_en-US" xlink:label="lab_trow_SponsoredInvestmentPortfoliosDiscretionaryInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discretionary investments</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_3cf099d0-f02a-4ca5-875a-9df5d2ce6d71_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted- average exercise price</link:label>
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    <link:label id="lab_us-gaap_OtherAssets_c4c1c7d7-07dc-4ddd-8161-0146460712d3_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_OtherAssets_label_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OtherAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssets" xlink:to="lab_us-gaap_OtherAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_5ce22ad1-2547-4c49-9aa7-b56db0a3e53b_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares authorized (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CommonStockSharesAuthorized"/>
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    <link:label id="lab_srt_ConsolidationEliminationsMember_label_en-US" xlink:label="lab_srt_ConsolidationEliminationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation, Eliminations [Member]</link:label>
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    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_0a526f74-e7a4-412f-b344-484a45713463_terseLabel_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basis of accounting</link:label>
    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basis of Accounting, Policy [Policy Text Block]</link:label>
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    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_8651d82c-4f18-4298-9d3e-4d915d0ea49a_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Outstanding assuming dilution (in shares)</link:label>
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    <link:label id="lab_us-gaap_DeferredCompensationArrangementWithIndividualRecordedLiability_8e65bfac-26cd-48c1-b5f0-358771647f07_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredCompensationArrangementWithIndividualRecordedLiability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Supplemental savings plan liability</link:label>
    <link:label id="lab_us-gaap_DeferredCompensationArrangementWithIndividualRecordedLiability_label_en-US" xlink:label="lab_us-gaap_DeferredCompensationArrangementWithIndividualRecordedLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Compensation Arrangement with Individual, Recorded Liability</link:label>
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    <link:label id="lab_trow_InformationAboutReceivablesRevenuesAndServicesTextBlock_bc857874-c063-48aa-88b8-7dda2f2c3647_terseLabel_en-US" xlink:label="lab_trow_InformationAboutReceivablesRevenuesAndServicesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES</link:label>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_20b31b59-de41-41b4-9b67-28043fc61db5_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remaining 2024</link:label>
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    <link:label id="lab_us-gaap_AOCIAttributableToParentNetOfTaxRollForward_029d35a1-681f-4d79-a27c-8c20fb27db2a_terseLabel_en-US" xlink:label="lab_us-gaap_AOCIAttributableToParentNetOfTaxRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">AOCI Attributable to Parent, Net of Tax [Roll Forward]</link:label>
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    <link:label id="lab_us-gaap_StockholdersEquity_7df455d7-b8d4-427a-8ee6-139cd65ff9ef_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total stockholders&#8217; equity attributable to T. Rowe Price Group, Inc.</link:label>
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    <link:label id="lab_us-gaap_ConcentrationRiskTypeDomain_4c818633-f21b-4462-9048-1c65b5d9a6ca_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Domain]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskTypeDomain_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Domain]</link:label>
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    <link:label id="lab_trow_MultiAssetMember_5b62cdcd-680c-4b51-8714-6158c98a8fa3_terseLabel_en-US" xlink:label="lab_trow_MultiAssetMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Multi-asset</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_trow_MultiAssetMember" xlink:href="trow-20240630.xsd#trow_MultiAssetMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_trow_MultiAssetMember" xlink:to="lab_trow_MultiAssetMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentIncomeNet_7ec209b0-1dc7-4ece-aea9-ab652a709896_verboseLabel_en-US" xlink:label="lab_us-gaap_InvestmentIncomeNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net investment income (loss) reflected in non-operating income (loss)</link:label>
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    <link:label id="lab_us-gaap_ProceedsFromPaymentsForTradingSecurities_9162d0c3-3c81-4d17-8937-133b5d7184aa_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForTradingSecurities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net redemptions in sponsored investment products used to economically hedge supplemental savings plan liability</link:label>
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    <link:label id="lab_trow_OtherInvestmentsMeasurementInput_35592169-2f8b-40bb-900b-75a8a85746ad_terseLabel_en-US" xlink:label="lab_trow_OtherInvestmentsMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement input</link:label>
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    <link:label id="lab_trow_OtherInvestmentsMeasurementInput_documentation_en-US" xlink:label="lab_trow_OtherInvestmentsMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Investments, Measurement Input</link:label>
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    <link:label id="lab_dei_DocumentFiscalPeriodFocus_8e848470-b87a-4792-bb87-01feb89248ae_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
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    <link:label id="lab_us-gaap_EquitySecuritiesMember_38a1a97c-cdc9-4a39-9809-8479ca94bfff_terseLabel_en-US" xlink:label="lab_us-gaap_EquitySecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity</link:label>
    <link:label id="lab_us-gaap_EquitySecuritiesMember_label_en-US" xlink:label="lab_us-gaap_EquitySecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Securities [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquitySecuritiesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EquitySecuritiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquitySecuritiesMember" xlink:to="lab_us-gaap_EquitySecuritiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_7734c699-3ad1-4fa8-852a-f33bc3352325_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo"/>
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    <link:label id="lab_trow_InvestmentAdvisoryClientsMember_09fcb7e1-459e-4c23-87b3-348b7114c80e_terseLabel_en-US" xlink:label="lab_trow_InvestmentAdvisoryClientsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment advisory fees</link:label>
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    <link:label id="lab_us-gaap_MinorityInterestPeriodIncreaseDecrease_3b58af54-273e-4058-bd4b-dee683a77960_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestPeriodIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net increase (decrease) in redeemable non-controlling interests</link:label>
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    <link:label id="lab_us-gaap_AssetsAbstract_319d6597-3001-4722-8b65-3fc4f1e5cf66_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ASSETS</link:label>
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    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax_3a6c1f6c-6d9a-471d-a0ba-f5be1c3af326_totalLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total other comprehensive income (loss)</link:label>
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    <link:label id="lab_dei_DocumentType_b3931a4e-fce7-44fb-94a2-a72b903d18fb_terseLabel_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
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    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardGross_43b2afc1-2605-49e7-8379-23f73a29c101_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net shares issued upon vesting of restricted stock units (in shares)</link:label>
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    <link:label id="lab_trow_ComponentsofInvestmentAdvisoryFeesTableTextBlock_5c9db026-dae6-45f7-913a-775dff477a0c_terseLabel_en-US" xlink:label="lab_trow_ComponentsofInvestmentAdvisoryFeesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Revenues From Advisory Services</link:label>
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    <link:label id="lab_trow_InvestmentsInAffiliatedCollateralizedLoanObligationsMember_c6b1262d-7316-4575-bf28-7fc792536f9e_terseLabel_en-US" xlink:label="lab_trow_InvestmentsInAffiliatedCollateralizedLoanObligationsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in affiliated collateralized loan obligations</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_27d1b1f5-6f38-4d83-bde0-aa838a783658_negatedLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Vested (in shares)</link:label>
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    <link:label id="lab_trow_TechnologyDepreciationOccupancyAndFacilityExpenses_1401e9f6-71fe-49db-8adf-68407d66c28e_terseLabel_en-US" xlink:label="lab_trow_TechnologyDepreciationOccupancyAndFacilityExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Technology, occupancy, and facility costs</link:label>
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    <link:label id="lab_us-gaap_ParentMember_090759ef-871f-429b-818c-e6b0899ff277_terseLabel_en-US" xlink:label="lab_us-gaap_ParentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total stockholders&#8217; equity attributable to T. Rowe Price Group, Inc.</link:label>
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    <link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_f2f877c8-b766-46fd-af62-0a3b44f3f075_terseLabel_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Indefinite-lived intangible assets</link:label>
    <link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_label_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Indefinite-Lived Intangible Assets (Excluding Goodwill)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:to="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MaximumMember_adb19223-64fa-4ad0-98be-dcb14a057321_terseLabel_en-US" xlink:label="lab_srt_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum</link:label>
    <link:label id="lab_srt_MaximumMember_label_en-US" xlink:label="lab_srt_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MaximumMember" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_MaximumMember"/>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_8e903e74-d434-4c7b-97bd-4e9ee3a28c7f_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Definite-lived intangible assets - investment advisory agreements</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FiniteLivedIntangibleAssetsNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NonUsMember_2da81112-bb4c-41cd-94bd-a2edffc5bc8e_terseLabel_en-US" xlink:label="lab_us-gaap_NonUsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Outside U.S.</link:label>
    <link:label id="lab_us-gaap_NonUsMember_label_en-US" xlink:label="lab_us-gaap_NonUsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-US [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonUsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NonUsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NonUsMember" xlink:to="lab_us-gaap_NonUsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentTypeAxis_51562108-ab0b-4625-9563-f92a17cd708f_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment Type [Axis]</link:label>
    <link:label id="lab_us-gaap_InvestmentTypeAxis_label_en-US" xlink:label="lab_us-gaap_InvestmentTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_InvestmentTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentTypeAxis" xlink:to="lab_us-gaap_InvestmentTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesAbstract_71b44897-abc7-42f5-819e-7f3e67055af9_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LIABILITIES</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAbstract_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LiabilitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAbstract" xlink:to="lab_us-gaap_LiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_ec114ca3-4598-41c3-8df3-0c39b3e65575_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expired (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_0333e6b9-987c-435e-9a44-148421e8090d_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less: net income (loss) attributable to redeemable non-controlling interests</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_b4b74bec-cc8f-428c-9234-33b7a3d5de96_netLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Net income (loss)</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_13ae8ab3-c986-435f-959a-2962bb9afbab_verboseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net income (loss) attributable to redeemable non-controlling interests</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Attributable to Redeemable Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xlink:to="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_trow_ConsolidatedSponsoredInvestmentPortfoliosTextBlock_0133dc89-55cf-4793-8bcd-bb02117f0e6c_terseLabel_en-US" xlink:label="lab_trow_ConsolidatedSponsoredInvestmentPortfoliosTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">CONSOLIDATED SPONSORED INVESTMENT PRODUCTS</link:label>
    <link:label id="lab_trow_ConsolidatedSponsoredInvestmentPortfoliosTextBlock_label_en-US" xlink:label="lab_trow_ConsolidatedSponsoredInvestmentPortfoliosTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidated Sponsored Investment Portfolios [Text Block]</link:label>
    <link:label id="lab_trow_ConsolidatedSponsoredInvestmentPortfoliosTextBlock_documentation_en-US" xlink:label="lab_trow_ConsolidatedSponsoredInvestmentPortfoliosTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Consolidated Sponsored Investment Portfolios</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_ConsolidatedSponsoredInvestmentPortfoliosTextBlock" xlink:href="trow-20240630.xsd#trow_ConsolidatedSponsoredInvestmentPortfoliosTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_trow_ConsolidatedSponsoredInvestmentPortfoliosTextBlock" xlink:to="lab_trow_ConsolidatedSponsoredInvestmentPortfoliosTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CurrentFiscalYearEndDate_47321d2d-3e04-41e0-a38f-24f9be87d2ad_terseLabel_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:label id="lab_dei_CurrentFiscalYearEndDate_label_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CurrentFiscalYearEndDate" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_CurrentFiscalYearEndDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CurrentFiscalYearEndDate" xlink:to="lab_dei_CurrentFiscalYearEndDate" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RangeAxis_0a76b5e6-a2a2-4477-ba21-052eaa5e4efc_terseLabel_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Axis]</link:label>
    <link:label id="lab_srt_RangeAxis_label_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeAxis" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_RangeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeAxis" xlink:to="lab_srt_RangeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_2890b94e-dc9a-4785-9485-e4d81793439d_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income before income taxes</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VestingAxis_a88aa29b-661a-4849-ab87-40d654766768_terseLabel_en-US" xlink:label="lab_us-gaap_VestingAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting [Axis]</link:label>
    <link:label id="lab_us-gaap_VestingAxis_label_en-US" xlink:label="lab_us-gaap_VestingAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VestingAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_VestingAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VestingAxis" xlink:to="lab_us-gaap_VestingAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_d06a979b-0d4f-41b8-a7e2-4b65d5def02a_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Type [Domain]</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_trow_SponsoredInvestmentPortfoliosSeedCapitalMember_02ad9852-94f0-4d82-9af8-3eec748f36fa_verboseLabel_en-US" xlink:label="lab_trow_SponsoredInvestmentPortfoliosSeedCapitalMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Seed capital</link:label>
    <link:label id="lab_trow_SponsoredInvestmentPortfoliosSeedCapitalMember_956e9788-a475-4bcf-a7de-a057e83f7dfe_terseLabel_en-US" xlink:label="lab_trow_SponsoredInvestmentPortfoliosSeedCapitalMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Seed capital</link:label>
    <link:label id="lab_trow_SponsoredInvestmentPortfoliosSeedCapitalMember_label_en-US" xlink:label="lab_trow_SponsoredInvestmentPortfoliosSeedCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sponsored Investment Portfolios, Seed Capital [Member]</link:label>
    <link:label id="lab_trow_SponsoredInvestmentPortfoliosSeedCapitalMember_documentation_en-US" xlink:label="lab_trow_SponsoredInvestmentPortfoliosSeedCapitalMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sponsored Investment Portfolios, Seed Capital [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_SponsoredInvestmentPortfoliosSeedCapitalMember" xlink:href="trow-20240630.xsd#trow_SponsoredInvestmentPortfoliosSeedCapitalMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_trow_SponsoredInvestmentPortfoliosSeedCapitalMember" xlink:to="lab_trow_SponsoredInvestmentPortfoliosSeedCapitalMember" xlink:type="arc" order="1"/>
    <link:label id="lab_trow_UtiAssetManagementCompanyIndiaMember_d148f807-27d7-49ea-8474-4b7a3cc0cf02_terseLabel_en-US" xlink:label="lab_trow_UtiAssetManagementCompanyIndiaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">23% Investment in UTI Asset Management Company Limited (India)</link:label>
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    <link:label id="lab_us-gaap_ScheduleOfUnrecognizedCompensationCostNonvestedAwardsTableTextBlock_958295d2-16d8-4d2d-a864-ed8d370b20e1_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfUnrecognizedCompensationCostNonvestedAwardsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Future Stock-based Compensation Expense</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract"/>
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    <link:label id="lab_trow_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostToBeRecognizedNextQuarter_302d2d3c-7020-4fa1-8764-6cf1efed7dbf_terseLabel_en-US" xlink:label="lab_trow_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostToBeRecognizedNextQuarter" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Third quarter 2024</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock_6e7d716c-48f0-49f0-930e-39ee338d0a74_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">GOODWILL AND INTANGIBLE ASSETS</link:label>
    <link:label id="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill and Intangible Assets Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock" xlink:to="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_2096fc99-8eae-48a0-bdcd-2ad21ed749b4_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Variable Interest Entities [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:to="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_trow_NetCashFlowForConsolidationDeconsolidationOfSponsoredInvestmentPortfolios_9ec4abab-f38d-481b-b3b0-f2409dc8ef33_terseLabel_en-US" xlink:label="lab_trow_NetCashFlowForConsolidationDeconsolidationOfSponsoredInvestmentPortfolios" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net cash of sponsored investment products on deconsolidation</link:label>
    <link:label id="lab_trow_NetCashFlowForConsolidationDeconsolidationOfSponsoredInvestmentPortfolios_label_en-US" xlink:label="lab_trow_NetCashFlowForConsolidationDeconsolidationOfSponsoredInvestmentPortfolios" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Flow For Consolidation Deconsolidation Of Sponsored Investment Portfolios</link:label>
    <link:label id="lab_trow_NetCashFlowForConsolidationDeconsolidationOfSponsoredInvestmentPortfolios_documentation_en-US" xlink:label="lab_trow_NetCashFlowForConsolidationDeconsolidationOfSponsoredInvestmentPortfolios" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The net cash inflow (outflow) associated with the consolidation (deconsolidation) of sponsored investment portfolios.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_NetCashFlowForConsolidationDeconsolidationOfSponsoredInvestmentPortfolios" xlink:href="trow-20240630.xsd#trow_NetCashFlowForConsolidationDeconsolidationOfSponsoredInvestmentPortfolios"/>
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    <link:label id="lab_us-gaap_StockholdersEquityAbstract_de4d433b-1786-4e81-a4c0-f3f21b293d3d_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">STOCKHOLDERS&#8217; EQUITY</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Attributable to Parent [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StockholdersEquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityAbstract" xlink:to="lab_us-gaap_StockholdersEquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_a4554ec1-c307-4f7f-9e5a-4a5007faf9d2_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Time-based grants (in dollars per share)</link:label>
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    <link:label id="lab_trow_ProductRelatedAndClientServicingExpenses_a85f3756-8179-4749-abb8-e26d9846ebe6_terseLabel_en-US" xlink:label="lab_trow_ProductRelatedAndClientServicingExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Product and recordkeeping related costs</link:label>
    <link:label id="lab_trow_ProductRelatedAndClientServicingExpenses_label_en-US" xlink:label="lab_trow_ProductRelatedAndClientServicingExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Product-Related And Client Servicing Expenses</link:label>
    <link:label id="lab_trow_ProductRelatedAndClientServicingExpenses_documentation_en-US" xlink:label="lab_trow_ProductRelatedAndClientServicingExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Product-Related And Client Servicing Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_ProductRelatedAndClientServicingExpenses" xlink:href="trow-20240630.xsd#trow_ProductRelatedAndClientServicingExpenses"/>
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    <link:label id="lab_us-gaap_Investments_362c0ad9-2dc1-4090-b23c-dfa17a13b7dc_terseLabel_en-US" xlink:label="lab_us-gaap_Investments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments</link:label>
    <link:label id="lab_us-gaap_Investments_c2886ed1-44d7-4da5-8be2-cb012f2d8c3d_totalLabel_en-US" xlink:label="lab_us-gaap_Investments" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_Investments_20e54fd0-1f0b-4ce6-8a39-f5307a43b4fc_verboseLabel_en-US" xlink:label="lab_us-gaap_Investments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Investments</link:label>
    <link:label id="lab_us-gaap_Investments_label_en-US" xlink:label="lab_us-gaap_Investments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Investments" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_Investments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Investments" xlink:to="lab_us-gaap_Investments" xlink:type="arc" order="1"/>
    <link:label id="lab_trow_BusinessCombinationContingentConsiderationIncentivePaymentPercentage_f0f58f40-ec2f-480b-b3ca-1b6bf96c95a0_terseLabel_en-US" xlink:label="lab_trow_BusinessCombinationContingentConsiderationIncentivePaymentPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Incentive payment, percentage</link:label>
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    <link:label id="lab_trow_BusinessCombinationContingentConsiderationIncentivePaymentPercentage_documentation_en-US" xlink:label="lab_trow_BusinessCombinationContingentConsiderationIncentivePaymentPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Business Combination, Contingent Consideration, Incentive Payment, Percentage</link:label>
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    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossTax_92c6a9c2-373f-435f-9b1b-ab54ca730be0_negatedLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossTax" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net deferred tax (expense) benefits</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossTax" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OtherComprehensiveIncomeLossTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossTax" xlink:type="arc" order="1"/>
    <link:label id="lab_trow_ConsolidatedSponsoredInvestmentPortfoliosAbstract_4d2bcea5-8036-477b-8e9a-26de8f1916eb_terseLabel_en-US" xlink:label="lab_trow_ConsolidatedSponsoredInvestmentPortfoliosAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated Sponsored Investment Portfolios [Abstract]</link:label>
    <link:label id="lab_trow_ConsolidatedSponsoredInvestmentPortfoliosAbstract_label_en-US" xlink:label="lab_trow_ConsolidatedSponsoredInvestmentPortfoliosAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidated Sponsored Investment Portfolios [Abstract]</link:label>
    <link:label id="lab_trow_ConsolidatedSponsoredInvestmentPortfoliosAbstract_documentation_en-US" xlink:label="lab_trow_ConsolidatedSponsoredInvestmentPortfoliosAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Consolidated Sponsored Investment Portfolios [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_ConsolidatedSponsoredInvestmentPortfoliosAbstract" xlink:href="trow-20240630.xsd#trow_ConsolidatedSponsoredInvestmentPortfoliosAbstract"/>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_b2fe0f73-c967-4ea0-aa4d-546a65713d93_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Four</link:label>
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    <link:label id="lab_trow_OHACommitmentsMember_14f13167-d260-4eb4-a12b-f684edc020b3_terseLabel_en-US" xlink:label="lab_trow_OHACommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">OHA Commitments</link:label>
    <link:label id="lab_trow_OHACommitmentsMember_label_en-US" xlink:label="lab_trow_OHACommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">OHA Commitments [Member]</link:label>
    <link:label id="lab_trow_OHACommitmentsMember_documentation_en-US" xlink:label="lab_trow_OHACommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">OHA Commitments</link:label>
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    <link:label id="lab_us-gaap_OtherInvestments_68bc7771-f890-4d28-90df-bf85fa321196_terseLabel_en-US" xlink:label="lab_us-gaap_OtherInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other investments</link:label>
    <link:label id="lab_us-gaap_OtherInvestments_8a641b89-a791-47d1-831d-3b3c8f1f5419_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherInvestments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other investments</link:label>
    <link:label id="lab_us-gaap_OtherInvestments_label_en-US" xlink:label="lab_us-gaap_OtherInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OtherInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherInvestments" xlink:to="lab_us-gaap_OtherInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherNonoperatingIncomeExpense_f7450e81-76fa-4914-b67e-f831d8bd5cd1_terseLabel_en-US" xlink:label="lab_us-gaap_OtherNonoperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other gains (losses), including foreign currency gains (losses)</link:label>
    <link:label id="lab_us-gaap_OtherNonoperatingIncomeExpense_label_en-US" xlink:label="lab_us-gaap_OtherNonoperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Nonoperating Income (Expense)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNonoperatingIncomeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OtherNonoperatingIncomeExpense"/>
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    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_a88674fc-011c-49b9-8c7b-da4af3647e05_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StatementOfStockholdersEquityAbstract"/>
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    <link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_8ad3e7bc-7542-44e9-97db-0fe7fa6ea51a_terseLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets, net</link:label>
    <link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_label_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Assets, Net (Excluding Goodwill)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill"/>
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    <link:label id="lab_trow_RevenueAndServicesTable_263bf1a0-789c-42be-8019-825e518d3908_terseLabel_en-US" xlink:label="lab_trow_RevenueAndServicesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue and Services [Table]</link:label>
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    <link:label id="lab_trow_RevenueAndServicesTable_documentation_en-US" xlink:label="lab_trow_RevenueAndServicesTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Summarization of information required and determined to be disclosed concerning advisory service revenues and the assets from which those revenues are derived, by customer and investment mandate.</link:label>
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    <link:label id="lab_trow_InvestmentIncomeNonoperatingConsolidatedSponsoredInvestmentPortfolios_db555cb7-e43b-47f5-9552-c17bcc316757_terseLabel_en-US" xlink:label="lab_trow_InvestmentIncomeNonoperatingConsolidatedSponsoredInvestmentPortfolios" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net gains (losses) on consolidated sponsored investment products</link:label>
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    <link:label id="lab_trow_InvestmentIncomeNonoperatingConsolidatedSponsoredInvestmentPortfolios_documentation_en-US" xlink:label="lab_trow_InvestmentIncomeNonoperatingConsolidatedSponsoredInvestmentPortfolios" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment Income, Nonoperating, Consolidated Sponsored Investment Portfolios</link:label>
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    <link:label id="lab_us-gaap_OtherCommitmentsDomain_24003816-9731-415b-8e9a-869b009fe156_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCommitmentsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Commitments [Domain]</link:label>
    <link:label id="lab_us-gaap_OtherCommitmentsDomain_label_en-US" xlink:label="lab_us-gaap_OtherCommitmentsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Commitments [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitmentsDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OtherCommitmentsDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCommitmentsDomain" xlink:to="lab_us-gaap_OtherCommitmentsDomain" xlink:type="arc" order="1"/>
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    <link:label id="lab_us-gaap_SharesOutstanding_label_en-US" xlink:label="lab_us-gaap_SharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares, Outstanding</link:label>
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    <link:label id="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_a3224250-1cf9-4b46-92b9-ea546bbd6ddf_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash equivalents held in money market funds</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_deb30473-170c-48b1-addf-e236147b4dc2_verboseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Cash equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure"/>
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    <link:label id="lab_trow_TemporaryEquityDecreaseDueToDeconsolidation_1b05b763-46c7-4a98-bebe-ff8a88de62de_negatedLabel_en-US" xlink:label="lab_trow_TemporaryEquityDecreaseDueToDeconsolidation" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net deconsolidations of T. Rowe Price investment products</link:label>
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    <link:label id="lab_us-gaap_InvestmentInterestRate_fbcc3e24-8984-4865-952d-718449089bc0_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment interest rate</link:label>
    <link:label id="lab_us-gaap_InvestmentInterestRate_label_en-US" xlink:label="lab_us-gaap_InvestmentInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Interest Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentInterestRate" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_InvestmentInterestRate"/>
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    <link:label id="lab_us-gaap_OperatingExpenses_48178f99-e50a-44b9-b123-0da5a020922a_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating expenses</link:label>
    <link:label id="lab_us-gaap_OperatingExpenses_label_en-US" xlink:label="lab_us-gaap_OperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingExpenses" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingExpenses" xlink:to="lab_us-gaap_OperatingExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_f06dc1ac-dc4a-4d0a-adb2-d22b8b6737c4_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:to="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_abe6d8af-b953-43a5-a184-ff63644b5fbd_negatedLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Common shares repurchased (in shares)</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased During Period, Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodShares" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StockRepurchasedDuringPeriodShares"/>
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    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_dbd477c4-13ea-42d1-ba01-e3cbe3b25025_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]</link:label>
    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_label_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward"/>
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    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_4420d74e-0598-437a-b2a0-a816f7659295_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">COMMITMENTS AND CONTINGENCIES</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock"/>
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    <link:label id="lab_us-gaap_RestrictedStockValueSharesIssuedNetOfTaxWithholdings_f558c019-4524-4f00-8fce-9be46c6f155b_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedStockValueSharesIssuedNetOfTaxWithholdings" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted shares issued, net of shares withheld for taxes</link:label>
    <link:label id="lab_us-gaap_RestrictedStockValueSharesIssuedNetOfTaxWithholdings_label_en-US" xlink:label="lab_us-gaap_RestrictedStockValueSharesIssuedNetOfTaxWithholdings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Stock, Value, Shares Issued Net of Tax Withholdings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedStockValueSharesIssuedNetOfTaxWithholdings" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RestrictedStockValueSharesIssuedNetOfTaxWithholdings"/>
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    <link:label id="lab_us-gaap_CommonStockMember_39680b8f-20a4-40ca-abf1-001370c3a84a_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock</link:label>
    <link:label id="lab_us-gaap_CommonStockMember_label_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CommonStockMember"/>
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    <link:label id="lab_us-gaap_PreferredStockSharesAuthorized_37ccd8dd-dd53-4e22-8aff-ce02992cdc76_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, shares authorized (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesAuthorized_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PreferredStockSharesAuthorized"/>
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    <link:label id="lab_dei_EntityEmergingGrowthCompany_0924116c-2679-44a7-bb70-3cdc6e12b1d2_terseLabel_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
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    <link:label id="lab_srt_ConsolidatedEntitiesAxis_948064e0-af43-4b2d-965b-7fc3cf8a951a_terseLabel_en-US" xlink:label="lab_srt_ConsolidatedEntitiesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated Entities [Axis]</link:label>
    <link:label id="lab_srt_ConsolidatedEntitiesAxis_label_en-US" xlink:label="lab_srt_ConsolidatedEntitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidated Entities [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidatedEntitiesAxis" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_ConsolidatedEntitiesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidatedEntitiesAxis" xlink:to="lab_srt_ConsolidatedEntitiesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementTable_463fdc83-436c-4402-8c95-ed2246e585a8_terseLabel_en-US" xlink:label="lab_us-gaap_StatementTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:label id="lab_us-gaap_StatementTable_label_en-US" xlink:label="lab_us-gaap_StatementTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementTable" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StatementTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementTable" xlink:to="lab_us-gaap_StatementTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementFrequencyDomain_a12148a7-46d9-4cc7-a2be-96ff791d7d2b_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementFrequencyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement Frequency [Domain]</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementFrequencyDomain_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementFrequencyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Frequency [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementFrequencyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FairValueMeasurementFrequencyDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementFrequencyDomain" xlink:to="lab_us-gaap_FairValueMeasurementFrequencyDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GeographicConcentrationRiskMember_969edff4-adba-4302-b7e7-24c16fd4285b_terseLabel_en-US" xlink:label="lab_us-gaap_GeographicConcentrationRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographic concentration</link:label>
    <link:label id="lab_us-gaap_GeographicConcentrationRiskMember_label_en-US" xlink:label="lab_us-gaap_GeographicConcentrationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographic Concentration Risk [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeographicConcentrationRiskMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_GeographicConcentrationRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeographicConcentrationRiskMember" xlink:to="lab_us-gaap_GeographicConcentrationRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_30d3094e-b0dc-4487-96b3-95bc33f36443_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Maximum Risk of Loss Related to Investments in Variable Interest Entities</link:label>
    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Variable Interest Entities [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:to="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_0a3100c8-9589-49c9-bcbe-9b6aa148ecb6_terseLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less: comprehensive income (loss) attributable to redeemable non-controlling interests</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest"/>
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    <link:label id="lab_srt_ConsolidationItemsDomain_58f7467b-a38c-45ec-bce2-cfcf461a994d_terseLabel_en-US" xlink:label="lab_srt_ConsolidationItemsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidation Items [Domain]</link:label>
    <link:label id="lab_srt_ConsolidationItemsDomain_label_en-US" xlink:label="lab_srt_ConsolidationItemsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation Items [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidationItemsDomain" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_ConsolidationItemsDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidationItemsDomain" xlink:to="lab_srt_ConsolidationItemsDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_trow_InvestmentSponsoredInvestmentPortfoliosAttributableToParent_7e9f44d6-79ed-4e42-a6b8-2f73800a50cd_totalLabel_en-US" xlink:label="lab_trow_InvestmentSponsoredInvestmentPortfoliosAttributableToParent" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Attributable to T. Rowe Price Group</link:label>
    <link:label id="lab_trow_InvestmentSponsoredInvestmentPortfoliosAttributableToParent_label_en-US" xlink:label="lab_trow_InvestmentSponsoredInvestmentPortfoliosAttributableToParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Sponsored Investment Portfolios, Attributable To Parent</link:label>
    <link:label id="lab_trow_InvestmentSponsoredInvestmentPortfoliosAttributableToParent_documentation_en-US" xlink:label="lab_trow_InvestmentSponsoredInvestmentPortfoliosAttributableToParent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the reporting entity's interest in consolidated sponsored investment portfolios. This amount is eliminated in consolidation.</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_trow_InvestmentSponsoredInvestmentPortfoliosAttributableToParent" xlink:to="lab_trow_InvestmentSponsoredInvestmentPortfoliosAttributableToParent" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CityAreaCode_2e42ec36-e760-436a-9c2d-576216d287d3_terseLabel_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:label id="lab_dei_CityAreaCode_label_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CityAreaCode" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_CityAreaCode"/>
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    <link:label id="lab_trow_VotingInterestEntitiesMember_2fb41f48-f27a-4ea6-8509-ca16aac50b7c_terseLabel_en-US" xlink:label="lab_trow_VotingInterestEntitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Voting interest entities</link:label>
    <link:label id="lab_trow_VotingInterestEntitiesMember_label_en-US" xlink:label="lab_trow_VotingInterestEntitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Voting Interest Entities [Member]</link:label>
    <link:label id="lab_trow_VotingInterestEntitiesMember_documentation_en-US" xlink:label="lab_trow_VotingInterestEntitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Voting Interest Entities [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_VotingInterestEntitiesMember" xlink:href="trow-20240630.xsd#trow_VotingInterestEntitiesMember"/>
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    <link:label id="lab_us-gaap_BusinessCombinationContingentConsiderationLiability_7427b743-08a8-45ce-b53a-b78b6e490d4b_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationContingentConsiderationLiability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contingent consideration liability</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationContingentConsiderationLiability_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationContingentConsiderationLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Contingent Consideration, Liability</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationContingentConsiderationLiability" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_BusinessCombinationContingentConsiderationLiability"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationContingentConsiderationLiability" xlink:to="lab_us-gaap_BusinessCombinationContingentConsiderationLiability" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueInputsLevel1Member_f02515db-d279-4ff1-8b8e-7e224697b740_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel1Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 1</link:label>
    <link:label id="lab_us-gaap_FairValueInputsLevel1Member_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Inputs, Level 1 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInputsLevel1Member" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FairValueInputsLevel1Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel1Member" xlink:to="lab_us-gaap_FairValueInputsLevel1Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskByBenchmarkAxis_812f85fe-09da-47ac-8708-2f3791cf2f04_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Axis]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskByBenchmarkAxis_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:to="lab_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityNoteAbstract_74c61a94-f07e-409d-9778-4f03cc066064_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Note [Abstract]</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityNoteAbstract_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Note [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityNoteAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StockholdersEquityNoteAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityNoteAbstract" xlink:to="lab_us-gaap_StockholdersEquityNoteAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_5e10a2e0-dd5e-4551-b5f5-0f3424b415b7_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StatementOfCashFlowsAbstract"/>
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    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_8aee5753-a101-4ba4-b137-6124e31dc85a_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repurchases of common stock</link:label>
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    <link:label id="lab_trow_InvestmentIncomeNonoperatingOtherThanConsolidatedSponsoredInvestmentPortfolios_4418f45a-e4d9-4b19-9907-f8c4e0a48f7d_terseLabel_en-US" xlink:label="lab_trow_InvestmentIncomeNonoperatingOtherThanConsolidatedSponsoredInvestmentPortfolios" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net gains (losses) on investments</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_b5770f06-ee9c-48c7-9106-bd4a8cad981e_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exercisable (in shares)</link:label>
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    <link:label id="lab_trow_ConsolidatedInvestmentPortfoliosMember_d5b769dd-edb0-47be-9b24-b541d8ac1c63_terseLabel_en-US" xlink:label="lab_trow_ConsolidatedInvestmentPortfoliosMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated T. Rowe Price investment products</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain"/>
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    <link:label id="lab_srt_SegmentGeographicalDomain_65efe5a8-078f-48de-a6ca-318dd4f9ce46_terseLabel_en-US" xlink:label="lab_srt_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographical [Domain]</link:label>
    <link:label id="lab_srt_SegmentGeographicalDomain_label_en-US" xlink:label="lab_srt_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_SegmentGeographicalDomain" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_SegmentGeographicalDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_SegmentGeographicalDomain" xlink:to="lab_srt_SegmentGeographicalDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_trow_SubscriptionFromRedemptionDistributionToNoncontrollingInterest_54a12971-d31e-4c61-9f33-cefbde97faaa_terseLabel_en-US" xlink:label="lab_trow_SubscriptionFromRedemptionDistributionToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net subscriptions into T. Rowe Price investment products</link:label>
    <link:label id="lab_trow_SubscriptionFromRedemptionDistributionToNoncontrollingInterest_label_en-US" xlink:label="lab_trow_SubscriptionFromRedemptionDistributionToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subscription From Redemption Distribution To Noncontrolling Interest</link:label>
    <link:label id="lab_trow_SubscriptionFromRedemptionDistributionToNoncontrollingInterest_documentation_en-US" xlink:label="lab_trow_SubscriptionFromRedemptionDistributionToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">A positive value represents subscriptions net of redemptions and distributions to redeemable non-controlling interest holders of a less than wholly owned subsidiary. A negative value represents redemptions and distributions paid to redeemable non-controlling interest holders net of subscriptions received.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_SubscriptionFromRedemptionDistributionToNoncontrollingInterest" xlink:href="trow-20240630.xsd#trow_SubscriptionFromRedemptionDistributionToNoncontrollingInterest"/>
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    <link:label id="lab_trow_NetSubscriptionsRedemptionsReceivedFromRedeemableNonControllingInterestHolders_b4b5a006-afc7-42bf-8649-e674c18db613_terseLabel_en-US" xlink:label="lab_trow_NetSubscriptionsRedemptionsReceivedFromRedeemableNonControllingInterestHolders" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net subscriptions from redeemable non-controlling interest holders</link:label>
    <link:label id="lab_trow_NetSubscriptionsRedemptionsReceivedFromRedeemableNonControllingInterestHolders_label_en-US" xlink:label="lab_trow_NetSubscriptionsRedemptionsReceivedFromRedeemableNonControllingInterestHolders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Subscriptions (Redemptions) Received From Redeemable Non Controlling Interest Holders</link:label>
    <link:label id="lab_trow_NetSubscriptionsRedemptionsReceivedFromRedeemableNonControllingInterestHolders_documentation_en-US" xlink:label="lab_trow_NetSubscriptionsRedemptionsReceivedFromRedeemableNonControllingInterestHolders" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net Subscriptions (Redemptions) Received From Redeemable Non Controlling Interest Holders</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_NetSubscriptionsRedemptionsReceivedFromRedeemableNonControllingInterestHolders" xlink:href="trow-20240630.xsd#trow_NetSubscriptionsRedemptionsReceivedFromRedeemableNonControllingInterestHolders"/>
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    <link:label id="lab_srt_CondensedCashFlowStatementsCaptionsLineItems_b888f4ab-0d9e-46c6-bcb2-aa5e188554b4_terseLabel_en-US" xlink:label="lab_srt_CondensedCashFlowStatementsCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Condensed Cash Flow Statements, Captions [Line Items]</link:label>
    <link:label id="lab_srt_CondensedCashFlowStatementsCaptionsLineItems_label_en-US" xlink:label="lab_srt_CondensedCashFlowStatementsCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Condensed Cash Flow Statements, Captions [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_CondensedCashFlowStatementsCaptionsLineItems" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_CondensedCashFlowStatementsCaptionsLineItems"/>
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    <link:label id="lab_dei_EntityAddressPostalZipCode_da0b26a5-fade-4a89-a3a2-273c99fd99dc_terseLabel_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:label id="lab_dei_EntityAddressPostalZipCode_label_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressPostalZipCode"/>
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    <link:label id="lab_dei_Security12bTitle_19c883e0-d1e2-4750-9be2-bf22f8991c7a_terseLabel_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:label id="lab_dei_Security12bTitle_label_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_Security12bTitle" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_Security12bTitle"/>
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    <link:label id="lab_us-gaap_ConcentrationRiskByTypeAxis_debd76dd-be2d-4041-8e28-330a3d335378_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Axis]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskByTypeAxis_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskByTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ConcentrationRiskByTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskByTypeAxis" xlink:to="lab_us-gaap_ConcentrationRiskByTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockValue_96bcb815-ff2b-451d-96e1-9f36fbaa4ce3_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, $0.20 par value&#8212;authorized 750,000,000; issued 222,612,000 shares at June&#160;30, 2024 and 223,938,000 at December&#160;31, 2023</link:label>
    <link:label id="lab_us-gaap_CommonStockValue_label_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Value, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValue" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CommonStockValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockValue" xlink:to="lab_us-gaap_CommonStockValue" xlink:type="arc" order="1"/>
    <link:label id="lab_trow_LiabilitiesOfVotingInterestEntitiesAndVariableInterestEntities_849ca5e4-1ad3-4307-b52e-5c70742b105c_terseLabel_en-US" xlink:label="lab_trow_LiabilitiesOfVotingInterestEntitiesAndVariableInterestEntities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities of consolidated sponsored investment products ($28.7 million at June&#160;30, 2024 and $35.2 million at December&#160;31, 2023, related to variable interest entities)</link:label>
    <link:label id="lab_trow_LiabilitiesOfVotingInterestEntitiesAndVariableInterestEntities_be3011cb-d16d-4c1f-a1f1-c9b7415fd299_verboseLabel_en-US" xlink:label="lab_trow_LiabilitiesOfVotingInterestEntitiesAndVariableInterestEntities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Liabilities of consolidated T. Rowe Price investment products</link:label>
    <link:label id="lab_trow_LiabilitiesOfVotingInterestEntitiesAndVariableInterestEntities_label_en-US" xlink:label="lab_trow_LiabilitiesOfVotingInterestEntitiesAndVariableInterestEntities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities Of Voting Interest Entities And Variable Interest Entities</link:label>
    <link:label id="lab_trow_LiabilitiesOfVotingInterestEntitiesAndVariableInterestEntities_documentation_en-US" xlink:label="lab_trow_LiabilitiesOfVotingInterestEntitiesAndVariableInterestEntities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Liabilities Of Voting Interest Entities And Variable Interest Entities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_LiabilitiesOfVotingInterestEntitiesAndVariableInterestEntities" xlink:href="trow-20240630.xsd#trow_LiabilitiesOfVotingInterestEntitiesAndVariableInterestEntities"/>
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    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_6269efb4-4696-4e9b-8dcd-50e40e067088_terseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement [Abstract]</link:label>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract"/>
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    <link:label id="lab_us-gaap_AmortizationOfAcquisitionCosts_7d6b2c1f-3dd0-45af-9f84-9ec4a44e4c8f_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfAcquisitionCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisition-related amortization and impairment costs</link:label>
    <link:label id="lab_us-gaap_AmortizationOfAcquisitionCosts_label_en-US" xlink:label="lab_us-gaap_AmortizationOfAcquisitionCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Acquisition Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfAcquisitionCosts" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AmortizationOfAcquisitionCosts"/>
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    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_cabe4d5b-66db-4602-b106-88ea86a4525b_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_a6aa6914-018f-4508-8535-17deda65563c_verboseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, at Carrying Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
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    <link:label id="lab_us-gaap_ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill_8c9f4959-6a0e-485b-87dd-a136fa2f9dff_terseLabel_en-US" xlink:label="lab_us-gaap_ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment charge</link:label>
    <link:label id="lab_us-gaap_ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill_label_en-US" xlink:label="lab_us-gaap_ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill"/>
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    <link:label id="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_6d74cc7c-f7a1-4d67-b414-c330260af2bf_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other investing activity</link:label>
    <link:label id="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for (Proceeds from) Other Investing Activities</link:label>
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    <link:label id="lab_trow_InvestmentPartnershipsAndOtherInvestmentsMember_515f51f2-399e-46fa-84fc-e0f305b1bb37_terseLabel_en-US" xlink:label="lab_trow_InvestmentPartnershipsAndOtherInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in partnerships and other investments</link:label>
    <link:label id="lab_trow_InvestmentPartnershipsAndOtherInvestmentsMember_label_en-US" xlink:label="lab_trow_InvestmentPartnershipsAndOtherInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Partnerships And Other Investments [Member]</link:label>
    <link:label id="lab_trow_InvestmentPartnershipsAndOtherInvestmentsMember_documentation_en-US" xlink:label="lab_trow_InvestmentPartnershipsAndOtherInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment Partnerships And Other Investments [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_InvestmentPartnershipsAndOtherInvestmentsMember" xlink:href="trow-20240630.xsd#trow_InvestmentPartnershipsAndOtherInvestmentsMember"/>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_87c21f55-6c33-46a1-b660-b5d1e1efbf4c_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets [Line Items]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FiniteLivedIntangibleAssetsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:type="arc" order="1"/>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsRangeOfOutcomesValueHigh" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_BusinessCombinationContingentConsiderationArrangementsRangeOfOutcomesValueHigh"/>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_951d0ccd-d354-414a-9baf-8cb7869e7643_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Time-based grants (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod"/>
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    <link:label id="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_598732c7-7190-4769-9c50-df4ec8fca012_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net contributions to non-controlling interests in consolidated entities</link:label>
    <link:label id="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest, Increase from Subsidiary Equity Issuance</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:to="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock_dc3a6ba5-bbac-4b7e-bbf5-3f06b7a60356_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Fair Value Measurements</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock"/>
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    <link:label id="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_cbe1e3e9-ec0a-40fa-a441-0cf17f0fe912_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Additions to property, equipment and software</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Property, Plant, and Equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
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    <link:label id="lab_us-gaap_CommitmentsAndContingencies_128f2441-ceba-45a5-b0d1-fc765b2362e3_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and contingent liabilities</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CommitmentsAndContingencies"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingencies" xlink:to="lab_us-gaap_CommitmentsAndContingencies" xlink:type="arc" order="1"/>
    <link:label id="lab_trow_BusinessCombinationEarnoutPercentageSecondThreshold_a68ec6d3-f154-4745-9c37-6a512cc070d3_terseLabel_en-US" xlink:label="lab_trow_BusinessCombinationEarnoutPercentageSecondThreshold" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnout 30% threshold</link:label>
    <link:label id="lab_trow_BusinessCombinationEarnoutPercentageSecondThreshold_label_en-US" xlink:label="lab_trow_BusinessCombinationEarnoutPercentageSecondThreshold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Earnout Percentage, Second Threshold</link:label>
    <link:label id="lab_trow_BusinessCombinationEarnoutPercentageSecondThreshold_documentation_en-US" xlink:label="lab_trow_BusinessCombinationEarnoutPercentageSecondThreshold" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Business Combination, Earnout Percentage, Second Threshold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_BusinessCombinationEarnoutPercentageSecondThreshold" xlink:href="trow-20240630.xsd#trow_BusinessCombinationEarnoutPercentageSecondThreshold"/>
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    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_c1925cdb-d950-4ed4-90bb-5e13bd9bc8c6_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems"/>
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    <link:label id="lab_trow_DistributionExpenses_18c9ed18-2e05-4ad8-8adf-3253d3a5f2e5_terseLabel_en-US" xlink:label="lab_trow_DistributionExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distribution and servicing</link:label>
    <link:label id="lab_trow_DistributionExpenses_label_en-US" xlink:label="lab_trow_DistributionExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution Expenses</link:label>
    <link:label id="lab_trow_DistributionExpenses_documentation_en-US" xlink:label="lab_trow_DistributionExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Distribution Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_DistributionExpenses" xlink:href="trow-20240630.xsd#trow_DistributionExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_trow_DistributionExpenses" xlink:to="lab_trow_DistributionExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_28e3572f-15e2-411a-8db1-5bc3febdce44_terseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">STOCK-BASED COMPENSATION</link:label>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
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    <link:label id="lab_trow_IncreaseDecreaseInLiabilitiesOfVotingInterestEntitiesAndVariableInterestEntities_00974127-afbe-45cc-a20b-777c32d913db_terseLabel_en-US" xlink:label="lab_trow_IncreaseDecreaseInLiabilitiesOfVotingInterestEntitiesAndVariableInterestEntities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net increase (decrease) in liabilities of consolidated sponsored investment products</link:label>
    <link:label id="lab_trow_IncreaseDecreaseInLiabilitiesOfVotingInterestEntitiesAndVariableInterestEntities_label_en-US" xlink:label="lab_trow_IncreaseDecreaseInLiabilitiesOfVotingInterestEntitiesAndVariableInterestEntities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) In Liabilities Of Voting Interest Entities And Variable Interest Entities</link:label>
    <link:label id="lab_trow_IncreaseDecreaseInLiabilitiesOfVotingInterestEntitiesAndVariableInterestEntities_documentation_en-US" xlink:label="lab_trow_IncreaseDecreaseInLiabilitiesOfVotingInterestEntitiesAndVariableInterestEntities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (Decrease) In Liabilities Of Voting Interest Entities And Variable Interest Entities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_IncreaseDecreaseInLiabilitiesOfVotingInterestEntitiesAndVariableInterestEntities" xlink:href="trow-20240630.xsd#trow_IncreaseDecreaseInLiabilitiesOfVotingInterestEntitiesAndVariableInterestEntities"/>
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    <link:label id="lab_dei_EntityAddressCityOrTown_57ccf474-9896-4ef4-bbf0-d257f8715687_terseLabel_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:label id="lab_dei_EntityAddressCityOrTown_label_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressCityOrTown" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressCityOrTown"/>
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    <link:label id="lab_trow_AdministrativeDistributionAndServicingMember_0dc011ec-da67-463f-8ed6-e4f9e242db22_terseLabel_en-US" xlink:label="lab_trow_AdministrativeDistributionAndServicingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Administrative, distribution, and servicing fees</link:label>
    <link:label id="lab_trow_AdministrativeDistributionAndServicingMember_label_en-US" xlink:label="lab_trow_AdministrativeDistributionAndServicingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Administrative, Distribution, And Servicing [Member]</link:label>
    <link:label id="lab_trow_AdministrativeDistributionAndServicingMember_documentation_en-US" xlink:label="lab_trow_AdministrativeDistributionAndServicingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Administrative, Distribution, And Servicing [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_AdministrativeDistributionAndServicingMember" xlink:href="trow-20240630.xsd#trow_AdministrativeDistributionAndServicingMember"/>
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    <link:label id="lab_trow_OHAAcquisitionMember_f6387d6b-7f96-471d-a55b-868e6db6c6e9_terseLabel_en-US" xlink:label="lab_trow_OHAAcquisitionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">OHA Acquisition</link:label>
    <link:label id="lab_trow_OHAAcquisitionMember_label_en-US" xlink:label="lab_trow_OHAAcquisitionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">OHA Acquisition [Member]</link:label>
    <link:label id="lab_trow_OHAAcquisitionMember_documentation_en-US" xlink:label="lab_trow_OHAAcquisitionMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">OHA Acquisition</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_OHAAcquisitionMember" xlink:href="trow-20240630.xsd#trow_OHAAcquisitionMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_trow_OHAAcquisitionMember" xlink:to="lab_trow_OHAAcquisitionMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_edda6de3-12e3-4b07-8e8f-b4c276cc8695_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Roll Forward of Stock Options</link:label>
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Option, Activity [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock"/>
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    <link:label id="lab_us-gaap_RevenuesNetOfInterestExpenseAbstract_4a618d31-9f67-436a-9259-5c39324a64ed_terseLabel_en-US" xlink:label="lab_us-gaap_RevenuesNetOfInterestExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenues</link:label>
    <link:label id="lab_us-gaap_RevenuesNetOfInterestExpenseAbstract_label_en-US" xlink:label="lab_us-gaap_RevenuesNetOfInterestExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues, Net of Interest Expense [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenuesNetOfInterestExpenseAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RevenuesNetOfInterestExpenseAbstract"/>
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    <link:label id="lab_trow_AssetsOfVotingInterestEntitiesAndVariableInterestEntities_8adc9f8d-0f6a-4338-a98c-2a278b44ecbc_terseLabel_en-US" xlink:label="lab_trow_AssetsOfVotingInterestEntitiesAndVariableInterestEntities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets of consolidated sponsored investment products ($1,211.9 million at June&#160;30, 2024 and $1,204.4 million at December&#160;31, 2023, related to variable interest entities)</link:label>
    <link:label id="lab_trow_AssetsOfVotingInterestEntitiesAndVariableInterestEntities_e2d5fe41-b5bc-4ae3-b88e-74bd0d26ef80_verboseLabel_en-US" xlink:label="lab_trow_AssetsOfVotingInterestEntitiesAndVariableInterestEntities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Assets of consolidated T. Rowe Price investment products</link:label>
    <link:label id="lab_trow_AssetsOfVotingInterestEntitiesAndVariableInterestEntities_label_en-US" xlink:label="lab_trow_AssetsOfVotingInterestEntitiesAndVariableInterestEntities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets Of Voting Interest Entities And Variable Interest Entities</link:label>
    <link:label id="lab_trow_AssetsOfVotingInterestEntitiesAndVariableInterestEntities_documentation_en-US" xlink:label="lab_trow_AssetsOfVotingInterestEntitiesAndVariableInterestEntities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Assets Of Voting Interest Entities And Variable Interest Entities</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsFairValueDisclosure" xlink:to="lab_us-gaap_AssetsFairValueDisclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentPeriodEndDate_77885a07-7e89-4682-89dd-0ad828d84da6_terseLabel_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:label id="lab_dei_DocumentPeriodEndDate_label_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentPeriodEndDate" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_DocumentPeriodEndDate"/>
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    <link:label id="lab_trow_AlternativesInvestmentMember_101a454d-a95f-400e-9acd-4f4ea4817ea8_terseLabel_en-US" xlink:label="lab_trow_AlternativesInvestmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Alternatives</link:label>
    <link:label id="lab_trow_AlternativesInvestmentMember_label_en-US" xlink:label="lab_trow_AlternativesInvestmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Alternatives Investment [Member]</link:label>
    <link:label id="lab_trow_AlternativesInvestmentMember_documentation_en-US" xlink:label="lab_trow_AlternativesInvestmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Alternatives Investment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_AlternativesInvestmentMember" xlink:href="trow-20240630.xsd#trow_AlternativesInvestmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_trow_AlternativesInvestmentMember" xlink:to="lab_trow_AlternativesInvestmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RetainedEarningsUnappropriatedMember_98a7043a-6ff3-4aa7-afaf-ed08049cb3f8_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsUnappropriatedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retained earnings</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsUnappropriatedMember_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsUnappropriatedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings, Unappropriated [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsUnappropriatedMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RetainedEarningsUnappropriatedMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsUnappropriatedMember" xlink:to="lab_us-gaap_RetainedEarningsUnappropriatedMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_2ab4fbc8-c386-47d1-abdc-ceb974d8b733_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Nonvested, beginning balance (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_68b3650c-11c8-44e0-92ff-fd72dbdcd855_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Nonvested, ending balance (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_6977fd40-875b-41be-810e-d477d83c88b5_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Nonvested, equity instruments other than options</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_fd11cca5-54cc-4f7e-b2db-dea8c43594f3_negatedLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Expired (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Expirations in Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod"/>
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    <link:label id="lab_trow_InvestmentPartnershipAndOtherInvestmentsMember_2ceef279-4b05-41a3-bb28-1b1a6d0fa896_terseLabel_en-US" xlink:label="lab_trow_InvestmentPartnershipAndOtherInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment partnerships and other investments</link:label>
    <link:label id="lab_trow_InvestmentPartnershipAndOtherInvestmentsMember_label_en-US" xlink:label="lab_trow_InvestmentPartnershipAndOtherInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Partnership And Other Investments [Member]</link:label>
    <link:label id="lab_trow_InvestmentPartnershipAndOtherInvestmentsMember_documentation_en-US" xlink:label="lab_trow_InvestmentPartnershipAndOtherInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment Partnership And Other Investments [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_InvestmentPartnershipAndOtherInvestmentsMember" xlink:href="trow-20240630.xsd#trow_InvestmentPartnershipAndOtherInvestmentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_trow_InvestmentPartnershipAndOtherInvestmentsMember" xlink:to="lab_trow_InvestmentPartnershipAndOtherInvestmentsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_trow_SponsoredInvestmentPortfoliosMember_7db304d6-487b-422d-966c-c232a163a3ab_terseLabel_en-US" xlink:label="lab_trow_SponsoredInvestmentPortfoliosMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sponsored investment portfolios</link:label>
    <link:label id="lab_trow_SponsoredInvestmentPortfoliosMember_23eb76f2-ef8e-43a9-aefb-1e2f48250528_verboseLabel_en-US" xlink:label="lab_trow_SponsoredInvestmentPortfoliosMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">T. Rowe Price investment products</link:label>
    <link:label id="lab_trow_SponsoredInvestmentPortfoliosMember_label_en-US" xlink:label="lab_trow_SponsoredInvestmentPortfoliosMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sponsored Investment Portfolios [Member]</link:label>
    <link:label id="lab_trow_SponsoredInvestmentPortfoliosMember_documentation_en-US" xlink:label="lab_trow_SponsoredInvestmentPortfoliosMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sponsored Investment Portfolios [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_SponsoredInvestmentPortfoliosMember" xlink:href="trow-20240630.xsd#trow_SponsoredInvestmentPortfoliosMember"/>
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    <link:label id="lab_trow_RevenuesAndServicesLineItems_6175641d-dd6a-4420-b454-8ba29aea6d6f_terseLabel_en-US" xlink:label="lab_trow_RevenuesAndServicesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue and Services [Line Items]</link:label>
    <link:label id="lab_trow_RevenuesAndServicesLineItems_label_en-US" xlink:label="lab_trow_RevenuesAndServicesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues and Services [Line Items]</link:label>
    <link:label id="lab_trow_RevenuesAndServicesLineItems_documentation_en-US" xlink:label="lab_trow_RevenuesAndServicesLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</link:label>
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    <link:label id="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_21731443-136d-4562-827e-b2d16637d259_totalLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Maximum risk of loss related to nonconsolidated variable interest entities</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount</link:label>
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    <link:label id="lab_trow_NetContributionsFromDistributionsToNonControllingInterestsInConsolidatedEntities_f925e27d-f636-4b0f-9056-1b6ccd316f11_terseLabel_en-US" xlink:label="lab_trow_NetContributionsFromDistributionsToNonControllingInterestsInConsolidatedEntities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net contributions (distributions) to non-controlling interests in consolidated entities</link:label>
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    <link:label id="lab_trow_NetContributionsFromDistributionsToNonControllingInterestsInConsolidatedEntities_documentation_en-US" xlink:label="lab_trow_NetContributionsFromDistributionsToNonControllingInterestsInConsolidatedEntities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net Contributions from (Distributions To) Non-controlling Interests In Consolidated Entities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_trow_NetContributionsFromDistributionsToNonControllingInterestsInConsolidatedEntities" xlink:href="trow-20240630.xsd#trow_NetContributionsFromDistributionsToNonControllingInterestsInConsolidatedEntities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_trow_NetContributionsFromDistributionsToNonControllingInterestsInConsolidatedEntities" xlink:to="lab_trow_NetContributionsFromDistributionsToNonControllingInterestsInConsolidatedEntities" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentTransitionReport_6ae945d1-3e94-4fb7-9202-7fca970c1004_terseLabel_en-US" xlink:label="lab_dei_DocumentTransitionReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Transition Report</link:label>
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    <link:label id="lab_srt_NameOfMajorCustomerDomain_858ce264-a86a-4da3-b671-92d8caeb10a9_terseLabel_en-US" xlink:label="lab_srt_NameOfMajorCustomerDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Customer [Domain]</link:label>
    <link:label id="lab_srt_NameOfMajorCustomerDomain_label_en-US" xlink:label="lab_srt_NameOfMajorCustomerDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer [Domain]</link:label>
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    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_2f1684a6-b4ac-4280-b7ca-ae87bbab0185_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated other comprehensive loss</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
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    <link:label id="lab_dei_EntityCurrentReportingStatus_e036e8a8-c737-4f48-a074-37f29f518259_terseLabel_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:label id="lab_dei_EntityCurrentReportingStatus_label_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCurrentReportingStatus" xlink:to="lab_dei_EntityCurrentReportingStatus" xlink:type="arc" order="1"/>
    <link:label id="lab_trow_InvestmentsInAffiliatedPrivateInvestmentFundsCarriedInterestMember_2c9ac6a2-a73e-430d-ac32-825a38f8b50b_terseLabel_en-US" xlink:label="lab_trow_InvestmentsInAffiliatedPrivateInvestmentFundsCarriedInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in affiliated private investment funds - carried interest</link:label>
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