Now That's What I Call Music! 7 was released on July 31, 2001. The album is the seventh edition of the (U.S.) Now series. It peaked at number 2 on the Billboard 200 and has been certified 2x Platinum by the RIAA. The compilation includes one song which reached the Billboard Hot 100: "All for You".
The cover is inspired by the NOW 36 UK cover released in 1997.