A complete photometric analysis of U,B, V photometry for the short-period solar-type V4l7 Aquilae is presented. Seven epochs of minimum light were determined from our observations covering two primary and five secondary eclipses. A period study covering some 58 000 orbital cycles reveals two distinct eras of constant period connected by what may be a smooth transition. The periods determined for the two eras are nearly the same, differing by ≍0.16s. During the intervening 23 years, a 0.1d jump in residuals takes place. The light curves show that V417 Aql is a W-type W UMa system with a 25 min time of constant light in the primary minimum. The light curves are fairly symmetrical. A simultaneous three-color solution was computed using the Wilson synthetic light-curve code. Our photometry in conjunction with the solution reveal that V417 Aql consists of GO V and F9 V spectral type components in contact with a 19% fill-out and a mass ratio of 0.37. Its nearly equal eclipse depths, the low mass ratio, and the moderate fill-out suggest that V417 Aql may be evolving into an A-type W UMa binary.