This jailbreak currently supports any fourth generation Apple TV running tvOS 9.1 to 10.1. Please follow iClarified on Twitter, Facebook, Google+, or RSS for updates.
Download the latest liberTV jailbreak IPA from here and Cydia Impactor from here and save them to a folder on your Mac.
Double click to open the Impactor dmg.
Drag and drop the Impactor app onto the Applications folder shortcut.
Launch Impactor from your Applications folder. Click Open if asked to confirm.
Plug in the power cable and connect your Apple TV to your computer via USB.
Drag and drop the liberTV IPA downloaded earlier into the Cydia Impactor app.
You will be asked to enter your Apple ID and password. This is only used to sign the IPA, letting it run on your device.
Cydia Impactor will sign the IPA and install the new liberTV jailbreak app on your device.
Disconnect the Apple TV from your computer and connect it to your TV using HDMI then launch the liberTV app.
Scroll down and click the Do it! button. Advanced users may customize the jailbreak options by toggling each item.
The KERN PROC and slide will be shown. Click OK to continue.
You'll be notified that the jailbreak may not succeed on the first attempt. Click the Live Dangerously button.
LiberTV will attempt to jailbreak your device. If it fails you'll be kicked back to the main menu to try the process again.
After many attempts, it took us at least 10, your device will be jailbroken!
You can now SSH into your device using its IP address, the user 'root', and the password 'alpine'. Once logged it, you should change the root password.
A big thanks to Jonathan Levin, Luca Todesco, Marco Grassi and everyone else who had a hand in creating this jailbreak.
Please follow iClarified on Twitter, Facebook, Google+, or RSS for updates.