diff --git a/README.md b/README.md
index af977dd..5d30793 100644
--- a/README.md
+++ b/README.md
@@ -6,7 +6,7 @@
 [coverity]: https://scan.coverity.com/projects/mcuboot
 [travis]: https://travis-ci.org/JuulLabs-OSS/mcuboot
 
-This is mcuboot version 1.6.0
+This is mcuboot version 1.7.0-rc1
 
 MCUboot is a secure bootloader for 32-bit MCUs. The goal of MCUboot is to
 define a common infrastructure for the bootloader, system flash layout on
diff --git a/docs/release-notes.md b/docs/release-notes.md
index c78d439..43b24be 100644
--- a/docs/release-notes.md
+++ b/docs/release-notes.md
@@ -3,6 +3,38 @@
 - Table of Contents
 {:toc}
 
+## Version 1.7.0
+
+The 1.7.0 release of MCUBoot adds support for Equal slots (direct-xip)
+upgrade mode, RAM loading upgrade mode, hardening against hardware level
+fault injection and timing attacks and single image mode.
+There are bug fixes, and associated imgtool updates as well.
+
+### About this release
+
+- Added possibility to enter deep sleep mode after mcuboot app execution
+  for cypress platform.
+- Added hardening against hardware level fault injection and timing attacks.
+- Introduced Abstract crypto primitives to simplify porting.
+- Added RAM-load upgrade mode.
+- Renamed single-image mode to single-slot mode.
+- Allow larger primary slot in swap-move
+- Fixed boostrapping in swap-move mode.
+- Fixed issue causing that interrupted swap-move operation might brick device
+  if the primary image was padded.
+- Abstracting mcuboot crypto functions for cleaner porting
+- Droped flash_area_read_is_empty() porting API.
+- boot/zephyr: Added watchdog feed on nRF devices.
+  See `CONFIG_BOOT_WATCHDOG_FEED` option.
+- boot/zephyr: Added patch for turning off cache for Cortex M7 before
+  chain-loading.
+- boot/zephyr: added option to relocate interrupts to application
+- boot/zephyr: clean ARM core configuration only when selected by user
+- boot/boot_serial: allow nonaligned last image data chunk
+- imgtool: added custom TLV support.
+- imgtool: added possibility to set confirm flag for hex files as well.
+- imgtool: Print image digest during verify.
+
 ## Version 1.6.0
 
 The 1.6.0 release of MCUboot adds support for the PSOC6 platform,
diff --git a/repository.yml b/repository.yml
index 11c17ff..eb29fae 100644
--- a/repository.yml
+++ b/repository.yml
@@ -30,6 +30,7 @@
     "1.4.0": "v1.4.0"
     "1.5.0": "v1.5.0"
     "1.6.0": "v1.6.0"
+    "1.7.0": "v1.7.0-rc1"
 
     "0-dev": "0.0.0"        # master
     "0-latest": "1.6.0"     # latest stable release
diff --git a/scripts/imgtool/__init__.py b/scripts/imgtool/__init__.py
index ae25718..cd3b885 100644
--- a/scripts/imgtool/__init__.py
+++ b/scripts/imgtool/__init__.py
@@ -12,4 +12,4 @@
 # See the License for the specific language governing permissions and
 # limitations under the License.
 
-imgtool_version = "1.7.0a1"
+imgtool_version = "1.7.0rc1"