diff --git a/releasenotes/notes/ironic-api-version-pike-4264d815385cba7a.yaml b/releasenotes/notes/ironic-api-version-pike-4264d815385cba7a.yaml
new file mode 100644
index 000000000..f5bd95f1f
--- /dev/null
+++ b/releasenotes/notes/ironic-api-version-pike-4264d815385cba7a.yaml
@@ -0,0 +1,13 @@
+---
+upgrade:
+  - |
+    The default bare metal API version used by the overcloud was bumped
+    to 1.34, which is latest API version supported by Pike ironicclient.
+deprecations:
+  - |
+    In the Queens release ironicclient will start defaulting to the latest
+    supported bare metal API version, instead of the lowest. After that,
+    we will stop pinning the bare metal API version in ``overcloudrc``.
+    All scripts that rely on a specific version should set it explicitly via
+    either ``OS_BAREMETAL_API_VERSION`` environment variable or
+    ``--os-baremetal-api-version`` command line argument.
diff --git a/tripleo_common/constants.py b/tripleo_common/constants.py
index 4d33e285b..53af3b457 100644
--- a/tripleo_common/constants.py
+++ b/tripleo_common/constants.py
@@ -111,8 +111,8 @@ PASSWORD_PARAMETER_NAMES = (
 PLAN_NAME_PATTERN = '^[a-zA-Z0-9-]+$'
 
 # The default version of the Bare metal API to set in overcloudrc.
-# 1.29 is the latest API version in Ironic Ocata supported by ironicclient.
-DEFAULT_BAREMETAL_API_VERSION = '1.29'
+# 1.34 is the latest API version in Ironic Pike supported by ironicclient.
+DEFAULT_BAREMETAL_API_VERSION = '1.34'
 
 # The default version of the Image API to set in overcloudrc.
 DEFAULT_IMAGE_API_VERSION = '2'