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The LS7 is a 7.0 L (427.6 in³) engine, based on the Gen IV architecture. The block is changed, with a larger 4.125 in (104.9 mm) bore and longer 4.00 in (101.6 mm) stroke than the LS2. The small-block's 4.4 in (111.8 mm) bore spacing is retained, requiring pressed-in cylinder liners. The crankshaft and main bearing caps are forged steel for durability, the connecting rods are forged titanium, and the pistons are hypereutectic, possibly to keep the relatively small mass pistons in check when they thermally expand at operating temperature. The two-valve arrangement is retained, though the titanium intake valves by Del West have grown to 2.20 in (55.9 mm) and sodium-filled exhaust valves are up to 1.61 in (40.9 mm).

Peak output is 505 hp (377 kW) at 6300 rpm and 470 ft·lbf (637 N·m) at 4800 rpm with a 7000 rpm redline setting a new record for a production overhead valve pushrod engine During GM's reliability testing of this engine in its prototype phase, the LS7 was remarked to have been repeatedly tested to be 8000 rpm capable, although power was not made at that rpm level, due to the constraints of the camshaft's profile and the intake manifold ability to flow required air at that engine speed.

The LS7 is hand-built by the General Motors Performance Build Center in Wixom, Michigan.