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    <link:loc xlink:href="trow-20181231.xsd#trow_OtherComprehensiveIncomeLossAvailableForSaleReclassificationAdjustmentFromAOCIBeforeTaxAbstract" xlink:label="loc_trow_OtherComprehensiveIncomeLossAvailableForSaleReclassificationAdjustmentFromAOCIBeforeTaxAbstract_33ACFF115A04A08C8785C6B84D458FEF" xlink:type="locator" />
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    <link:label id="lab_trow_OtherComprehensiveIncomeLossAdjustmentForCapitalGainDistributionReceivedBeforeTax1_22E6226FF7414FE07894C6B84D45A66D_negatedTerseLabel_en-US" xlink:label="lab_trow_OtherComprehensiveIncomeLossAdjustmentForCapitalGainDistributionReceivedBeforeTax1_22E6226FF7414FE07894C6B84D45A66D" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Capital gain distributions</link:label>
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    <link:loc xlink:href="trow-20181231.xsd#trow_OtherComprehensiveIncomeLossAdjustmentForCapitalGainDistributionReceivedBeforeTax1" xlink:label="loc_trow_OtherComprehensiveIncomeLossAdjustmentForCapitalGainDistributionReceivedBeforeTax1_22E6226FF7414FE07894C6B84D45A66D" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax_5B3C5DE0C33DD5F12CB4C6B84D45CD32_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax_5B3C5DE0C33DD5F12CB4C6B84D45CD32" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Net gains realized on dispositions determined using average cost</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax_5B3C5DE0C33DD5F12CB4C6B84D45CD32_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax_5B3C5DE0C33DD5F12CB4C6B84D45CD32" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax_5B3C5DE0C33DD5F12CB4C6B84D45CD32" xlink:type="locator" />
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    <link:label id="lab_trow_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForInvestmentTransferredFromAvailableForSaleToTradingSecuritiesBeforeTax_1CFB4F296D46A9B21789C6B84D450226_negatedTerseLabel_en-US" xlink:label="lab_trow_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForInvestmentTransferredFromAvailableForSaleToTradingSecuritiesBeforeTax_1CFB4F296D46A9B21789C6B84D450226" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Net unrealized gains recognized upon the transfer to trading investments</link:label>
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    <link:loc xlink:href="trow-20181231.xsd#trow_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForInvestmentTransferredFromAvailableForSaleToTradingSecuritiesBeforeTax" xlink:label="loc_trow_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForInvestmentTransferredFromAvailableForSaleToTradingSecuritiesBeforeTax_1CFB4F296D46A9B21789C6B84D450226" xlink:type="locator" />
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    <link:label id="lab_trow_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForAvailableForSaleSecuritiesBeforeTax_06FECE1A8C75341A433DC6B84D4532C5_negatedTotalLabel_en-US" xlink:label="lab_trow_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForAvailableForSaleSecuritiesBeforeTax_06FECE1A8C75341A433DC6B84D4532C5" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Total reclassification adjustments</link:label>
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    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax_B86AC80E9CFD20D9CD20C6B84D457195_totalLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax_B86AC80E9CFD20D9CD20C6B84D457195" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total net unrealized holding losses recognized in other comprehensive income</link:label>
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    <link:label id="lab_trow_ProceedsFromStockOptionsExercisedNetOfPaymentsForRepurchaseOfCommonStockForEmployeeTaxWithholdingObligationsAndStrikePrice_CED82948EA6342DD5060C6B910FC0DAC_terseLabel_en-US" xlink:label="lab_trow_ProceedsFromStockOptionsExercisedNetOfPaymentsForRepurchaseOfCommonStockForEmployeeTaxWithholdingObligationsAndStrikePrice_CED82948EA6342DD5060C6B910FC0DAC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common share issuances under stock-based compensation plans</link:label>
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    <link:label id="lab_us-gaap_PaymentsOfDividends_FFA231D8FD5A9BA27DD1C6B910FC4570_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividends_FFA231D8FD5A9BA27DD1C6B910FC4570" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Dividends paid to common stock and equity-award holders</link:label>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_993E9197F4F9D6726116C6B910FC0A24_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_993E9197F4F9D6726116C6B910FC0A24" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by (used in) provided by financing activities</link:label>
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    <link:label id="lab_trow_CompensationandRelatedCostsMember_D4F4EDB72E0D76DAF071C8CCF32DBD09_terseLabel_en-US" xlink:label="lab_trow_CompensationandRelatedCostsMember_D4F4EDB72E0D76DAF071C8CCF32DBD09" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation and related costs [Member]</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_8E47089C089AE52E17E75662E6972BEF_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_8E47089C089AE52E17E75662E6972BEF" 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, Vested in Period, Weighted Average Grant Date Fair Value</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_0CE64084300FC463C1C65662E6989933_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_0CE64084300FC463C1C65662E6989933" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average fair value of restricted shares and restricted stock units forfeited (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_0CE64084300FC463C1C65662E6989933_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_0CE64084300FC463C1C65662E6989933" 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, Forfeitures, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_0CE64084300FC463C1C65662E6989933" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_396549125C8F7EE226AE5662E6988D5A_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_396549125C8F7EE226AE5662E6988D5A" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Weighted-average fair value of nonvested restricted shares and restricted stock units at December 31, 2018 (in dollars per share)</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_64CEF65C9DD12B3A885C5662E698D689_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_64CEF65C9DD12B3A885C5662E698D689" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Value at vest date</link:label>
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    <link:label id="lab_trow_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNonvestedPerformanceThresholdMetNumber_08818FCC639E1103101E5662E6985733_terseLabel_en-US" xlink:label="lab_trow_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNonvestedPerformanceThresholdMetNumber_08818FCC639E1103101E5662E6985733" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Nonvested shares where performance threshold has been met (in shares)</link:label>
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    <link:loc xlink:href="trow-20181231.xsd#trow_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNonvestedPerformanceThresholdMetNumber" xlink:label="loc_trow_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNonvestedPerformanceThresholdMetNumber_08818FCC639E1103101E5662E6985733" xlink:type="locator" />
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    <link:label id="lab_trow_VestedRestrictedStockUnits_411DF5B53EE5C3D2D66E5662E6985AA4_documentation_en-US" xlink:label="lab_trow_VestedRestrictedStockUnits_411DF5B53EE5C3D2D66E5662E6985AA4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of vested but unsettled awards (other than option plans) for which the company is obligated to issue equity instruments or transfer assets to a non-employee director.  For these awards the non-employee director has satisfied the service or performance criteria necessary to gain title to the underlying shares but will not receive the shares until separation from the board.</link:label>
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    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_761F9E84DF4FD5D968C92D29C0C3CDB4_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_761F9E84DF4FD5D968C92D29C0C3CDB4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated useful life</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_761F9E84DF4FD5D968C92D29C0C3CDB4_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_761F9E84DF4FD5D968C92D29C0C3CDB4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Useful Life</link:label>
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    <link:label id="lab_trow_ConsolidatedSponsoredInvestmentPortfoliosTextBlock_661C650FF915DE071D693833513418B6_terseLabel_en-US" xlink:label="lab_trow_ConsolidatedSponsoredInvestmentPortfoliosTextBlock_E3BCFB28C3B25132993C0647B649A3DD" 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:label id="lab_trow_EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostToBeRecognizedQuarterOneOfNextFiscalYear_0D9ACFF909B2B478FB1B95173F21E672_terseLabel_en-US" xlink:label="lab_trow_EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostToBeRecognizedQuarterOneOfNextFiscalYear_0D9ACFF909B2B478FB1B95173F21E672" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">First quarter 2019</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_trow_EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostToBeRecognizedQuarterOneOfNextFiscalYear_0D9ACFF909B2B478FB1B95173F21E672" xlink:to="lab_trow_EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostToBeRecognizedQuarterOneOfNextFiscalYear_0D9ACFF909B2B478FB1B95173F21E672" xlink:type="arc" />
    <link:label id="lab_trow_EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostToBeRecognizedQuarterTwoOfNextFiscalYear_4F0B702AC7121FBCD94395173F21FBF8_terseLabel_en-US" xlink:label="lab_trow_EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostToBeRecognizedQuarterTwoOfNextFiscalYear_4F0B702AC7121FBCD94395173F21FBF8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Second quarter 2019</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_trow_EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostToBeRecognizedQuarterTwoOfNextFiscalYear_4F0B702AC7121FBCD94395173F21FBF8" xlink:to="lab_trow_EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostToBeRecognizedQuarterTwoOfNextFiscalYear_4F0B702AC7121FBCD94395173F21FBF8" xlink:type="arc" />
    <link:label id="lab_trow_EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostToBeRecognizedQuarterThreeOfNextFiscalYear_ABCB1B4FD80519B399FC95173F2148C2_terseLabel_en-US" xlink:label="lab_trow_EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostToBeRecognizedQuarterThreeOfNextFiscalYear_ABCB1B4FD80519B399FC95173F2148C2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Third quarter 2019</link:label>
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