diff --git a/package/devel/gdb-arc/Makefile b/package/devel/gdb-arc/Makefile
index d5966c573d..6cdf6bdf5f 100644
--- a/package/devel/gdb-arc/Makefile
+++ b/package/devel/gdb-arc/Makefile
@@ -8,14 +8,14 @@
 include $(TOPDIR)/rules.mk
 
 PKG_NAME:=gdb-arc
-PKG_VERSION:=arc-2016.09-gdb
+PKG_VERSION:=arc-2017.03-gdb
 PKG_RELEASE:=1
 
-PKG_SOURCE:=gdb-arc-2016.09-gdb.tar.gz
+PKG_SOURCE:=gdb-arc-2017.03-gdb.tar.gz
 PKG_SOURCE_URL:=https://github.com/foss-for-synopsys-dwc-arc-processors/binutils-gdb/archive/$(PKG_VERSION)
 PKG_HASH:=6a91f86cc487c1548d3f5d4f29f7226d2019c0db8a63633aeabd5914a340f3f9
 
-PKG_BUILD_DIR:=$(BUILD_DIR)/binutils-gdb-arc-2016.09-gdb
+PKG_BUILD_DIR:=$(BUILD_DIR)/binutils-gdb-arc-2017.03-gdb
 
 PKG_BUILD_PARALLEL:=1
 PKG_INSTALL:=1
diff --git a/toolchain/binutils/Config.in b/toolchain/binutils/Config.in
index 61529c2f1e..8fe33fb6b7 100644
--- a/toolchain/binutils/Config.in
+++ b/toolchain/binutils/Config.in
@@ -3,7 +3,7 @@
 choice
 	prompt "Binutils Version" if TOOLCHAINOPTS
 	default BINUTILS_USE_VERSION_2_28 if !arc
-	default BINUTILS_USE_VERSION_2_27_ARC if arc
+	default BINUTILS_USE_VERSION_2_28_ARC if arc
 	help
 	  Select the version of binutils you wish to use.
 
@@ -17,10 +17,10 @@ choice
 		bool "Binutils 2.28"
 		select BINUTILS_VERSION_2_28
 
-	config BINUTILS_USE_VERSION_2_27_ARC
+	config BINUTILS_USE_VERSION_2_28_ARC
 		depends on arc
-		bool "ARC binutils 2.27"
-		select BINUTILS_VERSION_2_27_ARC
+		bool "ARC binutils 2.28"
+		select BINUTILS_VERSION_2_28_ARC
 
 endchoice
 
diff --git a/toolchain/binutils/Config.version b/toolchain/binutils/Config.version
index e85c6d7e11..1b223e4109 100644
--- a/toolchain/binutils/Config.version
+++ b/toolchain/binutils/Config.version
@@ -5,7 +5,7 @@ config BINUTILS_VERSION_2_28
 	default y if (!TOOLCHAINOPTS && !arc)
 	bool
 
-config BINUTILS_VERSION_2_27_ARC
+config BINUTILS_VERSION_2_28_ARC
 	default y if (!TOOLCHAINOPTS && arc)
 	bool
 
@@ -13,4 +13,4 @@ config BINUTILS_VERSION
 	string
 	default "2.27"		       if BINUTILS_VERSION_2_27
 	default "2.28"		       if BINUTILS_VERSION_2_28
-	default "arc-2016.09"          if BINUTILS_VERSION_2_27_ARC
+	default "arc-2017.03"          if BINUTILS_VERSION_2_28_ARC
diff --git a/toolchain/binutils/Makefile b/toolchain/binutils/Makefile
index 459f54587b..6df11fbd3c 100644
--- a/toolchain/binutils/Makefile
+++ b/toolchain/binutils/Makefile
@@ -21,11 +21,11 @@ ifeq ($(PKG_VERSION),2.28)
   PKG_HASH:=6297433ee120b11b4b0a1c8f3512d7d73501753142ab9e2daa13c5a3edd32a72
 endif
 
-ifneq ($(CONFIG_BINUTILS_VERSION_2_27_ARC),)
-  PKG_REV:=arc-2016.09-release
+ifneq ($(CONFIG_BINUTILS_VERSION_2_28_ARC),)
+  PKG_REV:=arc-2017.03-release
   PKG_SOURCE_URL:=https://github.com/foss-for-synopsys-dwc-arc-processors/binutils-gdb/archive/$(PKG_REV)/
   PKG_SOURCE:=$(PKG_NAME)-$(PKG_REV).tar.gz
-  PKG_HASH:=c6de8aedb7568406d784295476de9139a5e351e970e18b602e0037439b3a7b4b
+  PKG_HASH:=f9c1e09ef10aaf9619181f49587f464ba0a70d29b7f6f879047140acac852409
   BINUTILS_DIR:=$(PKG_NAME)-gdb-$(PKG_REV)
   HOST_BUILD_DIR:=$(BUILD_DIR_TOOLCHAIN)/$(BINUTILS_DIR)
 endif
diff --git a/toolchain/gcc/Config.in b/toolchain/gcc/Config.in
index 84f2b9675d..ea33ac29c1 100644
--- a/toolchain/gcc/Config.in
+++ b/toolchain/gcc/Config.in
@@ -2,14 +2,14 @@
 
 choice
 	prompt "GCC compiler Version" if TOOLCHAINOPTS
-	default GCC_USE_VERSION_6_2_ARC if arc
+	default GCC_USE_VERSION_6_3_ARC if arc
 	default GCC_USE_VERSION_5
 	help
 	  Select the version of gcc you wish to use.
 
-	config GCC_USE_VERSION_6_2_ARC
-		select GCC_VERSION_6_2_ARC
-		bool "gcc 6.2.x with support of ARC cores"
+	config GCC_USE_VERSION_6_3_ARC
+		select GCC_VERSION_6_3_ARC
+		bool "gcc 6.3.x with support of ARC cores"
 		depends on arc
 
 	config GCC_USE_VERSION_5
diff --git a/toolchain/gcc/Config.version b/toolchain/gcc/Config.version
index 167f4316b4..86c723dc9a 100644
--- a/toolchain/gcc/Config.version
+++ b/toolchain/gcc/Config.version
@@ -1,14 +1,14 @@
-config GCC_VERSION_6_2_ARC
+config GCC_VERSION_6_3_ARC
 	default y if (!TOOLCHAINOPTS && arc)
 	bool
 
 config GCC_VERSION
 	string
-	default "arc-2016.09-release"   if GCC_VERSION_6_2_ARC
+	default "arc-2017.03-release"   if GCC_VERSION_6_3_ARC
 	default "6.3.0"         if GCC_USE_VERSION_6
 	default "7.1.0"         if GCC_USE_VERSION_7
 	default "5.4.0"
 
-config GCC_VERSION_6_2
+config GCC_VERSION_6_3
 	bool
-	default y	if GCC_VERSION_6_2_ARC
+	default y	if GCC_VERSION_6_3_ARC
diff --git a/toolchain/gcc/common.mk b/toolchain/gcc/common.mk
index b28d3ce36b..5b5cbd17d1 100644
--- a/toolchain/gcc/common.mk
+++ b/toolchain/gcc/common.mk
@@ -40,12 +40,12 @@ ifeq ($(PKG_VERSION),7.1.0)
   PKG_HASH:=8a8136c235f64c6fef69cac0d73a46a1a09bb250776a050aec8f9fc880bebc17
 endif
 
-ifneq ($(CONFIG_GCC_VERSION_6_2_ARC),)
-    PKG_VERSION:=6.2.1
+ifneq ($(CONFIG_GCC_VERSION_6_3_ARC),)
+    PKG_VERSION:=6.3.0
     PKG_SOURCE_URL:=https://github.com/foss-for-synopsys-dwc-arc-processors/gcc/archive/$(GCC_VERSION)
     PKG_SOURCE:=$(PKG_NAME)-$(GCC_VERSION).tar.gz
-    PKG_HASH:=d6f842dd266ccb0d5a53b51e2b2951503569f2ff3c84f81b2a1d9fea109ec077
-    PKG_REV:=2016.09
+    PKG_HASH:=b7223e134199b1a6f71de629da6aa845790e55d28e9892143dde09b1bc878110
+    PKG_REV:=2017.03-release
     GCC_DIR:=gcc-arc-$(PKG_REV)
     HOST_BUILD_DIR = $(BUILD_DIR_HOST)/$(PKG_NAME)-$(GCC_VERSION)
 endif
diff --git a/toolchain/gcc/patches/arc-2016.09-release/001-revert_register_mode_search.patch b/toolchain/gcc/patches/arc-2017.03-release/001-revert_register_mode_search.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/001-revert_register_mode_search.patch
rename to toolchain/gcc/patches/arc-2017.03-release/001-revert_register_mode_search.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/002-case_insensitive.patch b/toolchain/gcc/patches/arc-2017.03-release/002-case_insensitive.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/002-case_insensitive.patch
rename to toolchain/gcc/patches/arc-2017.03-release/002-case_insensitive.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/010-documentation.patch b/toolchain/gcc/patches/arc-2017.03-release/010-documentation.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/010-documentation.patch
rename to toolchain/gcc/patches/arc-2017.03-release/010-documentation.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/230-musl_libssp.patch b/toolchain/gcc/patches/arc-2017.03-release/230-musl_libssp.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/230-musl_libssp.patch
rename to toolchain/gcc/patches/arc-2017.03-release/230-musl_libssp.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/280-musl-disable-ifunc-by-default.patch b/toolchain/gcc/patches/arc-2017.03-release/280-musl-disable-ifunc-by-default.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/280-musl-disable-ifunc-by-default.patch
rename to toolchain/gcc/patches/arc-2017.03-release/280-musl-disable-ifunc-by-default.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/300-mips_Os_cpu_rtx_cost_model.patch b/toolchain/gcc/patches/arc-2017.03-release/300-mips_Os_cpu_rtx_cost_model.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/300-mips_Os_cpu_rtx_cost_model.patch
rename to toolchain/gcc/patches/arc-2017.03-release/300-mips_Os_cpu_rtx_cost_model.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/800-arm_v5te_no_ldrd_strd.patch b/toolchain/gcc/patches/arc-2017.03-release/800-arm_v5te_no_ldrd_strd.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/800-arm_v5te_no_ldrd_strd.patch
rename to toolchain/gcc/patches/arc-2017.03-release/800-arm_v5te_no_ldrd_strd.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/810-arm-softfloat-libgcc.patch b/toolchain/gcc/patches/arc-2017.03-release/810-arm-softfloat-libgcc.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/810-arm-softfloat-libgcc.patch
rename to toolchain/gcc/patches/arc-2017.03-release/810-arm-softfloat-libgcc.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/820-libgcc_pic.patch b/toolchain/gcc/patches/arc-2017.03-release/820-libgcc_pic.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/820-libgcc_pic.patch
rename to toolchain/gcc/patches/arc-2017.03-release/820-libgcc_pic.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/830-arm_unbreak_armv4t.patch b/toolchain/gcc/patches/arc-2017.03-release/830-arm_unbreak_armv4t.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/830-arm_unbreak_armv4t.patch
rename to toolchain/gcc/patches/arc-2017.03-release/830-arm_unbreak_armv4t.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/840-armv4_pass_fix-v4bx_to_ld.patch b/toolchain/gcc/patches/arc-2017.03-release/840-armv4_pass_fix-v4bx_to_ld.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/840-armv4_pass_fix-v4bx_to_ld.patch
rename to toolchain/gcc/patches/arc-2017.03-release/840-armv4_pass_fix-v4bx_to_ld.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/850-use_shared_libgcc.patch b/toolchain/gcc/patches/arc-2017.03-release/850-use_shared_libgcc.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/850-use_shared_libgcc.patch
rename to toolchain/gcc/patches/arc-2017.03-release/850-use_shared_libgcc.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/851-libgcc_no_compat.patch b/toolchain/gcc/patches/arc-2017.03-release/851-libgcc_no_compat.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/851-libgcc_no_compat.patch
rename to toolchain/gcc/patches/arc-2017.03-release/851-libgcc_no_compat.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/870-ppc_no_crtsavres.patch b/toolchain/gcc/patches/arc-2017.03-release/870-ppc_no_crtsavres.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/870-ppc_no_crtsavres.patch
rename to toolchain/gcc/patches/arc-2017.03-release/870-ppc_no_crtsavres.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/880-no_java_section.patch b/toolchain/gcc/patches/arc-2017.03-release/880-no_java_section.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/880-no_java_section.patch
rename to toolchain/gcc/patches/arc-2017.03-release/880-no_java_section.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/881-no_tm_section.patch b/toolchain/gcc/patches/arc-2017.03-release/881-no_tm_section.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/881-no_tm_section.patch
rename to toolchain/gcc/patches/arc-2017.03-release/881-no_tm_section.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/900-bad-mips16-crt.patch b/toolchain/gcc/patches/arc-2017.03-release/900-bad-mips16-crt.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/900-bad-mips16-crt.patch
rename to toolchain/gcc/patches/arc-2017.03-release/900-bad-mips16-crt.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/910-mbsd_multi.patch b/toolchain/gcc/patches/arc-2017.03-release/910-mbsd_multi.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/910-mbsd_multi.patch
rename to toolchain/gcc/patches/arc-2017.03-release/910-mbsd_multi.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/920-specs_nonfatal_getenv.patch b/toolchain/gcc/patches/arc-2017.03-release/920-specs_nonfatal_getenv.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/920-specs_nonfatal_getenv.patch
rename to toolchain/gcc/patches/arc-2017.03-release/920-specs_nonfatal_getenv.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/930-fix-mips-noexecstack.patch b/toolchain/gcc/patches/arc-2017.03-release/930-fix-mips-noexecstack.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/930-fix-mips-noexecstack.patch
rename to toolchain/gcc/patches/arc-2017.03-release/930-fix-mips-noexecstack.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/940-no-clobber-stamp-bits.patch b/toolchain/gcc/patches/arc-2017.03-release/940-no-clobber-stamp-bits.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/940-no-clobber-stamp-bits.patch
rename to toolchain/gcc/patches/arc-2017.03-release/940-no-clobber-stamp-bits.patch
diff --git a/toolchain/gcc/patches/arc-2016.09-release/950-cpp_file_path_translation.patch b/toolchain/gcc/patches/arc-2017.03-release/950-cpp_file_path_translation.patch
similarity index 100%
rename from toolchain/gcc/patches/arc-2016.09-release/950-cpp_file_path_translation.patch
rename to toolchain/gcc/patches/arc-2017.03-release/950-cpp_file_path_translation.patch
diff --git a/toolchain/gdb/Makefile b/toolchain/gdb/Makefile
index 72e1766c57..77e24f4609 100644
--- a/toolchain/gdb/Makefile
+++ b/toolchain/gdb/Makefile
@@ -9,11 +9,11 @@ include $(TOPDIR)/rules.mk
 PKG_NAME:=gdb
 
 ifeq ($(CONFIG_arc),y)
-PKG_VERSION:=arc-2016.09-gdb
+PKG_VERSION:=arc-2017.03-gdb
 
 PKG_SOURCE:=$(PKG_NAME)-$(PKG_VERSION).tar.gz
-PKG_SOURCE_URL:=https://github.com/foss-for-synopsys-dwc-arc-processors/binutils-gdb/archive/arc-2016.09-gdb
-PKG_HASH:=b7601f8953055c6768304da7f7ee48abc0fc0ad2bec8f93bbefb29780467f21d
+PKG_SOURCE_URL:=https://github.com/foss-for-synopsys-dwc-arc-processors/binutils-gdb/archive/arc-2017.03-gdb
+PKG_HASH:=f47930161e9e99c46ab018dabbf56024739dda29c51f92495eaa0d4d7e3511f6
 GDB_DIR:=binutils-$(PKG_NAME)-$(PKG_VERSION)
 PATCH_DIR:=./patches-arc
 else
