diff --git a/esphome/const.py b/esphome/const.py
index f33b4ee406..90155f30f6 100644
--- a/esphome/const.py
+++ b/esphome/const.py
@@ -1,8 +1,8 @@
 """Constants used by esphome."""
 
 MAJOR_VERSION = 1
-MINOR_VERSION = 18
-PATCH_VERSION = "0-dev"
+MINOR_VERSION = 17
+PATCH_VERSION = "0b1"
 __short_version__ = f"{MAJOR_VERSION}.{MINOR_VERSION}"
 __version__ = f"{__short_version__}.{PATCH_VERSION}"