diff --git a/README.md b/README.md
index cee0350a8..321ed0139 100644
--- a/README.md
+++ b/README.md
@@ -110,6 +110,7 @@ of releases [here](https://github.com/tensorflow/io/releases).
 
 | TensorFlow I/O Version | TensorFlow Compatibility | Release Date |
 | --- | --- | --- |
+| 0.17.0 | 2.4.x | Dec 14, 2020 |
 | 0.16.0 | 2.3.x | Oct 23, 2020 |
 | 0.15.0 | 2.3.x | Aug 03, 2020 |
 | 0.14.0 | 2.2.x | Jul 08, 2020 |
diff --git a/RELEASE.md b/RELEASE.md
index 5459b4c59..aa2ac9503 100644
--- a/RELEASE.md
+++ b/RELEASE.md
@@ -1,3 +1,26 @@
+# Release 0.17.0
+
+## Major Features
+* Added MongoDB dataset support.
+* Added Apache Pulsar dataset support.
+* Added FFMpeg support for Ubuntu 20.04.
+* Added the message offset to record for Kafka dataset.
+* Azure file system migrated to modular file system C APIs.
+* HTTP file system migrated to modular file system C APIs.
+* Initial s3 modular file system support through scheme `s3e://`.
+* Initial gcs modular file system support through scheme `gse://`.
+* Initial hdfs modular file system support through scheme `hdfse://`.
+
+## Thanks to our Contributors
+
+This release contains contributions from many people:
+
+Samuel Marks, Tom McTiernan, Vignesh Kothapalli, Yong Tang,
+Yunze Xu, 博琰
+
+We are also grateful to all who filed issues or helped resolve them, asked and
+answered questions, and were part of inspiring discussions.
+
 # Release 0.16.0
 
 ## Major Features
diff --git a/tensorflow_io/core/python/ops/version_ops.py b/tensorflow_io/core/python/ops/version_ops.py
index 67ce32a63..d6d6e3122 100644
--- a/tensorflow_io/core/python/ops/version_ops.py
+++ b/tensorflow_io/core/python/ops/version_ops.py
@@ -14,5 +14,5 @@
 # ==============================================================================
 """version_ops"""
 
-package = "tensorflow>=2.4.0rc4,<2.5.0"
+package = "tensorflow>=2.4.0,<2.5.0"
 version = "0.17.0"