diff --git a/doc/source/advanced.rst b/doc/source/advanced.rst
index ea431bb24..bfc2161f9 100644
--- a/doc/source/advanced.rst
+++ b/doc/source/advanced.rst
@@ -190,36 +190,6 @@ appear as the task name in the logs.
 .. image:: images/task_name_dashboard.png
 
 
-Dynamic Custom Resources
-------------------------
-
-Ray enables explicit developer control with respect to the task and actor placement by using custom resources. Further, users are able to dynamically adjust custom resources programmatically with ``ray.experimental.set_resource``. This allows the Ray application to implement virtually any scheduling policy, including task affinity, data locality, anti-affinity,
-load balancing, gang scheduling, and priority-based scheduling.
-
-
-.. code-block:: python
-
-    ray.init()
-    resource_name = "test_resource"
-    resource_capacity = 1.0
-
-    @ray.remote
-    def set_resource(resource_name, resource_capacity):
-        ray.experimental.set_resource(resource_name, resource_capacity)
-
-    ray.get(set_resource.remote(resource_name, resource_capacity))
-
-    available_resources = ray.available_resources()
-    cluster_resources = ray.cluster_resources()
-
-    assert available_resources[resource_name] == resource_capacity
-    assert cluster_resources[resource_name] == resource_capacity
-
-
-.. autofunction:: ray.experimental.set_resource
-    :noindex:
-
-
 Accelerator Types
 ------------------
 
diff --git a/python/ray/experimental/dynamic_resources.py b/python/ray/experimental/dynamic_resources.py
index 0abb9cd13..8594e6d7e 100644
--- a/python/ray/experimental/dynamic_resources.py
+++ b/python/ray/experimental/dynamic_resources.py
@@ -1,35 +1,6 @@
-import ray
-
-
 def set_resource(resource_name, capacity, node_id=None):
-    """ Set a resource to a specified capacity.
-
-    This creates, updates or deletes a custom resource for a target NodeID.
-    If the resource already exists, it's capacity is updated to the new value.
-    If the capacity is set to 0, the resource is deleted.
-    If NodeID is not specified or set to None,
-    the resource is created on the local node where the actor is running.
-
-    Args:
-        resource_name (str): Name of the resource to be created
-        capacity (int): Capacity of the new resource. Resource is deleted if
-            capacity is 0.
-        node_id (str): The NodeID of the node where the resource is to be
-            set.
-
-    Returns:
-        None
-
-    Raises:
-          ValueError: This exception is raised when a non-negative capacity is
-            specified.
-    """
-    if node_id is not None:
-        node_id_obj = ray.NodeID(ray.utils.hex_to_binary(node_id))
-    else:
-        node_id_obj = ray.NodeID.nil()
-    if (capacity < 0) or (capacity != int(capacity)):
-        raise ValueError(
-            "Capacity {} must be a non-negative integer.".format(capacity))
-    return ray.worker.global_worker.core_worker.set_resource(
-        resource_name, capacity, node_id_obj)
+    raise DeprecationWarning(
+        "Dynamic custom resources are deprecated. Consider using placement "
+        "groups instead (docs.ray.io/en/master/placement-group.html). You "
+        "can also specify resources at Ray start time with the 'resources' "
+        "field in the cluster autoscaler.")