This work focuses on representing very high-dimensional global image descriptors using very compact 64-1024 bit binary hashes for instance retrieval. We propose DeepHash: a hashing scheme based on deep networks. Key to making DeepHash work at extremely low bitrates are three important considerations -- regularization, depth and fine-tuning -- each requiring solutions specific to the hashing problem. In-depth evaluation shows that our scheme outperforms state-of-the-art methods over several benchmark datasets for both Fisher Vectors and Deep Convolutional Neural Network features, by up to 8.5% over other schemes. The retrieval performance with 256-bit hashes is close to that of the uncompressed floating point features -- a remarkable 512x compression.