Upgrading to latest docker version

I have docker version 1.7 installed on system and want to upgrade to latest docker version. Please let me know the recommended steps/process.

docker version
Client version: 1.7.1
Client API version: 1.19
Go version (client): go1.4.2
Git commit (client): 786b29d/1.7.1
OS/Arch (client): linux/amd64
Server version: 1.7.1
Server API version: 1.19
Go version (server): go1.4.2
Git commit (server): 786b29d/1.7.1
OS/Arch (server): linux/amd64

docker info
Containers: 0
Images: 3
Storage Driver: devicemapper
Pool Name: docker-253:0-2883588-pool
Pool Blocksize: 65.54 kB
Backing Filesystem: extfs
Data file: /dev/loop0
Metadata file: /dev/loop1
Data Space Used: 15 GB
Data Space Total: 107.4 GB
Data Space Available: 92.37 GB
Metadata Space Used: 8.319 MB
Metadata Space Total: 2.147 GB
Metadata Space Available: 2.139 GB
Udev Sync Supported: true
Deferred Removal Enabled: false
Data loop file: /docker/data/devicemapper/devicemapper/data
Metadata loop file: /docker/data/devicemapper/devicemapper/metadata
Library Version: 1.02.117-RHEL6 (2016-08-15)
Execution Driver: native-0.2
Logging Driver: json-file
Kernel Version: 2.6.32-642.13.1.el6.x86_64
Operating System: Oracle Linux Server 6.8
CPUs: 4
Total Memory: 15.58 GiB