For 2017 Reynolds remained at Erebus Motorsport, with the car retaining the backing of Penrite for the #9 Commodore. In the 2016–17 off-season, the team embarked on building a new car for Reynolds from the ground up, built to Reynolds' and Erebus Motorsport's specifications, as opposed to the Walkinshaw Racing car that they were working with previously. However, the team elected to continue using the well-rounded Walkinshaw Racing engine package. Reynolds endured a lacklustre opening round in Adelaide. Despite featuring in the shootout for the Saturday race, he didn't have a car to challenge for the top positions, and this was compounded with receiving a drive-through penalty for exceeding track limits too many times, resulting in an 18th place finish. Another finish outside of the top ten followed on Sunday. However, from Tasmania onwards, results improved, with Reynolds and Erebus Motorsport consistently being in and around the top ten cars in qualifying and races. The combination of Reynolds, engineer Alistair McVean, and a brand new car with quality componentry developed by Erebus entailed strong results in nearly every session that the team participated in, albeit with the car regularly struggling with pace over longer stints in races. Highlights included a podium finish at Phillip Island, another stirring drive at Winton with a 4th place result after a 14th place qualifying position, as well as top five qualifying positions at Hidden Valley and Townsville. For the endurance races, Reynolds was partnered with Luke Youlden. At the first endurance event at Sandown, stated as being a retro round, the #9 Penrite Holden ran a tribute livery to the Holden Torana L34 ran in 1976 by Peter Brock and Phil Brock. The event started well for Reynolds and Youlden, with Youlden winning the first co-driver qualifying race, and Reynolds finishing the second qualifying race in third. After starting from third, the car suffered from a tyre delamination mid-way through the race and eventually finished in 17th. At the 2017 Bathurst 1000, the #9 car was consistently among the top few cars in the free practice sessions, and Reynolds qualified the car in second for the shootout. In the shootout, Reynolds consolidated the speed shown from the car and recorded a lap time quick enough for second place on the grid. Despite the weekend having been run in dry conditions up to that point, nearly the entirety of the race was run in wet conditions. Reynolds and Youlden kept themselves in contention for victory throughout the day, making minimal mistakes and keeping themselves within the top three cars for the duration of the race. Late race safety cars and fuel strategy complicated the complexion of the race in the dying stages. At a late-race restart, Reynolds was positioned just inside the top ten, fuel strategy having taken the #9 out of the top few cars. Another restart soon after with subsequent strategy plays from other teams left Reynolds in fourth position, but a light sprinkling of rain on the pit straight caused the two leading cars of Shane van Gisbergen and Garth Tander to run off at the final corner, leaving Reynolds in second position behind Nick Percat. Reynolds had superior car speed over Percat, and quickly passed him, but had to conserve fuel in order to make it to the end. Subsequent safety car periods eased the need to conserve fuel, and Reynolds was able to guide the #9 Erebus Penrite Commodore to victory on a treacherous drying track, setting the fastest lap time of the day in the final laps of the race. It was the maiden Bathurst victory for Reynolds, Youlden, and Erebus Motorsport, and the first independent Australian team to win the Bathurst 1000 since Garth Tander and Jason Bargwanna won the 2000 Bathurst 1000 for Garry Rogers Motorsport in similar conditions. The remaining endurance event at the Gold Coast didn't yield similar results, with damage on the car hindering the driver change and subsequent race result in the first race, and a mistake and resulting crash by Youlden taking the pairing out of a top ten position in the Sunday race. Reynolds ended the year with a third place finishing in the Sunday race of the inaugural Newcastle 500, finishing 7th in the championship.