Pangu has released jailbreak for Apple TV 4 running on tvOS 9.0-9.0.1. The latest Pangu jailbreak for Apple TV 4 is however not compatible with the latest tvOS 9.1 and tvOS 9.2 which was released by Apple at March 21 event.
The latest Pangu jailbreak for Apple TV 4 allows only SHSH access which means that you will find Cydia on the home screen of your Apple TV 4 once you are done with the jailbreak. The SHSH access will enable developers to port apps and tweaks to the Apple TV4.
The Pangu Apple TV jailbreak is currently for Mac users and you need to install Xcode, a free app from the Mac App Store. Moreover, you need to have an Apple Developer Program by paying a subscription of $99 yearly. To connect your Apple TV 4 to Mac you also require USB-Type C cable.
If you are on tvOS 9.0-9.0.1 don’t update to tvOS 9.1 and tvOS 9.2 as you will not be able downgrade.
Pangu team has also released the Pangu jailbreak for iOS 9.1 with no any updates regarding the release of jailbreak for iOS 9.3 which was released by Apple couple of days back.
Download Pangu Jailbreak for Apple TV 4
To jailbreak your Apple TV 4 you should follow the guide by Pangu here.