diff --git a/CHANGELOG.md b/CHANGELOG.md
index ac405fb00..9c1d11c59 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -3,6 +3,7 @@
 ## v3.3.0
 
 - [Report diagnostics only on certain files with `reportFiles` option](https://github.com/TypeStrong/ts-loader/pull/701) - thanks @freeman!
+- [Replaced option `contextAsConfigBasePath` with `context` option.](https://github.com/TypeStrong/ts-loader/pull/688/) Strictly speaking a breaking change. However, given the original option was never able to fulfil its intended purpose I've decided to treat this as just a new feature; there seems no possibility that anyone can be using `contextAsConfigBasePath` - thanks @christiantinauer! 
 - [Added support for the new watch api of TypeScript compiler.](https://github.com/TypeStrong/ts-loader/pull/685)  nb This feature has been placed behind a new `experimentalWatchApi` option until it has been thoroughly tested. All being well it is likely to become the default behaviour for ts-loader in future - thanks @sheetalkamat!
 
 ## v3.2.0
diff --git a/test/comparison-tests/validateLoaderOptionNames/expectedOutput-2.7/bundle.js b/test/comparison-tests/validateLoaderOptionNames/expectedOutput-2.7/bundle.js
index 32b7d188c..a2b1b16e0 100644
--- a/test/comparison-tests/validateLoaderOptionNames/expectedOutput-2.7/bundle.js
+++ b/test/comparison-tests/validateLoaderOptionNames/expectedOutput-2.7/bundle.js
@@ -67,7 +67,7 @@
 /* 0 */
 /***/ (function(module, exports) {
 
-throw new Error("Module build failed: Error: ts-loader was supplied with an unexpected loader option: notRealOption\n\nPlease take a look at the options you are supplying; the following are valid options:\nsilent / logLevel / logInfoToStdOut / instance / compiler / contextAsConfigBasePath / configFile / transpileOnly / ignoreDiagnostics / errorFormatter / colors / compilerOptions / appendTsSuffixTo / appendTsxSuffixTo / entryFileCannotBeJs / onlyCompileBundledFiles / happyPackMode / getCustomTransformers / reportFiles / experimentalWatchApi\n\n    at validateLoaderOptions (C:/source/ts-loader/dist/index.js:92:19)\n    at getLoaderOptions (C:/source/ts-loader/dist/index.js:75:5)\n    at Object.loader (C:/source/ts-loader/dist/index.js:23:19)");
+throw new Error("Module build failed: Error: ts-loader was supplied with an unexpected loader option: notRealOption\n\nPlease take a look at the options you are supplying; the following are valid options:\nsilent / logLevel / logInfoToStdOut / instance / compiler / context / configFile / transpileOnly / ignoreDiagnostics / errorFormatter / colors / compilerOptions / appendTsSuffixTo / appendTsxSuffixTo / entryFileCannotBeJs / onlyCompileBundledFiles / happyPackMode / getCustomTransformers / reportFiles / experimentalWatchApi\n\n    at validateLoaderOptions (C:/source/ts-loader/dist/index.js:92:19)\n    at getLoaderOptions (C:/source/ts-loader/dist/index.js:75:5)\n    at Object.loader (C:/source/ts-loader/dist/index.js:23:19)");
 
 /***/ })
 /******/ ]);
\ No newline at end of file
diff --git a/test/comparison-tests/validateLoaderOptionNames/expectedOutput-2.7/output.txt b/test/comparison-tests/validateLoaderOptionNames/expectedOutput-2.7/output.txt
index f9d0a839a..e2f7c0d2b 100644
--- a/test/comparison-tests/validateLoaderOptionNames/expectedOutput-2.7/output.txt
+++ b/test/comparison-tests/validateLoaderOptionNames/expectedOutput-2.7/output.txt
@@ -1,12 +1,12 @@
     Asset     Size  Chunks             Chunk Names
-bundle.js  3.24 kB       0  [emitted]  main
-   [0] ./.test/validateLoaderOptionNames/app.ts 765 bytes {0} [built] [failed] [1 error]
+bundle.js  3.22 kB       0  [emitted]  main
+   [0] ./.test/validateLoaderOptionNames/app.ts 749 bytes {0} [built] [failed] [1 error]
 
 ERROR in ./.test/validateLoaderOptionNames/app.ts
 Module build failed: Error: ts-loader was supplied with an unexpected loader option: notRealOption
 
 Please take a look at the options you are supplying; the following are valid options:
-silent / logLevel / logInfoToStdOut / instance / compiler / contextAsConfigBasePath / configFile / transpileOnly / ignoreDiagnostics / errorFormatter / colors / compilerOptions / appendTsSuffixTo / appendTsxSuffixTo / entryFileCannotBeJs / onlyCompileBundledFiles / happyPackMode / getCustomTransformers / reportFiles / experimentalWatchApi
+silent / logLevel / logInfoToStdOut / instance / compiler / context / configFile / transpileOnly / ignoreDiagnostics / errorFormatter / colors / compilerOptions / appendTsSuffixTo / appendTsxSuffixTo / entryFileCannotBeJs / onlyCompileBundledFiles / happyPackMode / getCustomTransformers / reportFiles / experimentalWatchApi
 
     at validateLoaderOptions (dist\index.js:92:19)
     at getLoaderOptions (dist\index.js:75:5)