diff --git a/dir.common.props b/dir.common.props
index 96b57af55a62..f4378a93c3e7 100644
--- a/dir.common.props
+++ b/dir.common.props
@@ -65,7 +65,7 @@
 
   <PropertyGroup>
     <!-- Central place to set the versions of all nuget packages produced in the repo -->
-    <PackageVersion Condition="'$(PackageVersion)' == ''">3.1.16</PackageVersion>
+    <PackageVersion Condition="'$(PackageVersion)' == ''">3.1.17</PackageVersion>
     <PreReleaseLabel>servicing</PreReleaseLabel>
   </PropertyGroup>
 
diff --git a/eng/Versions.props b/eng/Versions.props
index e49b975780d4..b8bfe7625302 100644
--- a/eng/Versions.props
+++ b/eng/Versions.props
@@ -2,7 +2,7 @@
 <Project>
   <PropertyGroup>
     <!-- The .NET Core product branding version -->
-    <ProductVersion>3.1.16</ProductVersion>
+    <ProductVersion>3.1.17</ProductVersion>
     <!-- File version numbers -->
     <MajorVersion>4</MajorVersion>
     <MinorVersion>7</MinorVersion>