diff --git a/sdk/python/kfp/compiler/_component_builder.py b/sdk/python/kfp/compiler/_component_builder.py
index ece5dd6362a..bc0b081615c 100644
--- a/sdk/python/kfp/compiler/_component_builder.py
+++ b/sdk/python/kfp/compiler/_component_builder.py
@@ -21,6 +21,7 @@
 import shutil
 from collections import OrderedDict
 from pathlib import Path
+from typing import Callable
 from ..components._components import _create_task_factory_from_component_spec
 from ._container_builder import ContainerBuilder
 
@@ -407,7 +408,10 @@ def build_python_component(component_func, target_image, base_image=None, depend
   if base_image is None:
     base_image = getattr(component_func, '_component_base_image', None)
   if base_image is None:
-    raise ValueError('base_image must not be None')
+    from ..components._python_op import get_default_base_image
+    base_image = get_default_base_image()
+    if isinstance(base_image, Callable):
+      base_image = base_image()
 
   logging.info('Build an image that is based on ' +
                                  base_image +
diff --git a/sdk/python/kfp/components/_python_op.py b/sdk/python/kfp/components/_python_op.py
index 2771501d1bf..755a3414151 100644
--- a/sdk/python/kfp/components/_python_op.py
+++ b/sdk/python/kfp/components/_python_op.py
@@ -15,6 +15,8 @@
 __all__ = [
     'func_to_container_op',
     'func_to_component_text',
+    'get_default_base_image',
+    'set_default_base_image',
 ]
 
 from ._yaml_utils import dump_yaml
@@ -24,7 +26,7 @@
 import inspect
 from pathlib import Path
 import typing
-from typing import TypeVar, Generic, List
+from typing import Callable, Generic, List, TypeVar, Union
 
 T = TypeVar('T')
 
@@ -42,6 +44,17 @@ class OutputFile(Generic[T], str):
 _default_base_image='tensorflow/tensorflow:1.13.2-py3'
 
 
+def get_default_base_image() -> Union[str, Callable[[], str]]:
+    return _default_base_image
+
+
+def set_default_base_image(image_or_factory: Union[str, Callable[[], str]]):
+    '''set_default_base_image sets the name of the container image that will be used for component creation when base_image is not specified.
+    Alternatively, the base image can also be set to a factory function that will be returning the image.
+    '''
+    _default_base_image = image_or_factory
+
+
 def _python_function_name_to_component_name(name):
     import re
     return re.sub(' +', ' ', name.replace('_', ' ')).strip(' ').capitalize()
@@ -207,7 +220,7 @@ def annotation_to_type_struct(annotation):
     return component_spec
 
 
-def _func_to_component_spec(func, extra_code='', base_image=_default_base_image, modules_to_capture: List[str] = None, use_code_pickling=False) -> ComponentSpec:
+def _func_to_component_spec(func, extra_code='', base_image : str = None, modules_to_capture: List[str] = None, use_code_pickling=False) -> ComponentSpec:
     '''Takes a self-contained python function and converts it to component
 
     Args:
@@ -220,13 +233,15 @@ def _func_to_component_spec(func, extra_code='', base_image=_default_base_image,
     '''
     decorator_base_image = getattr(func, '_component_base_image', None)
     if decorator_base_image is not None:
-        if base_image is not _default_base_image and decorator_base_image != base_image:
+        if base_image is not None and decorator_base_image != base_image:
             raise ValueError('base_image ({}) conflicts with the decorator-specified base image metadata ({})'.format(base_image, decorator_base_image))
         else:
             base_image = decorator_base_image
     else:
         if base_image is None:
-            raise ValueError('base_image cannot be None')
+            base_image = _default_base_image
+            if isinstance(base_image, Callable):
+                base_image = base_image()
 
     component_spec = _extract_component_interface(func)