It took place in Helsinki, Finland, following the country's victory at the 2006 contest with the song "Hard Rock Hallelujah" by Lordi.

In addition, Krisse Salminen acted as guest host in the green room, and reported from the crowds at the Senate Square.

The winner was Serbia with the song "Molitva", performed by Marija Šerifović and written by Vladimir Graić and Saša Milošević Mare.

The choice of Helsinki was justified, among other things, by the requirements of the number of people and technology, as well as its superior flight and transport connections and accommodation capacity.

The known possible venues for the contest included LänsiAuto Areena in Espoo, Helsinki Ice Hall, Helsinki Fair Center, industrial workshop buildings at Pasilan konepaja [fi] in Helsinki, Lahden suurhalli [fi] in Lahti, Rovaniemi Lapland Arena, Pirkkahalli (main hall of Tampere Exhibition and Sports Centre), Tampere Ice Stadium and Turkuhalli.

On 12 March 2007, the draws for the running order for the semi-final, final and voting procedure took place.

In the final, the results from each country were once again shown from one to seven points automatically on screen and only eight, ten and twelve were read by the spokespeople.

For the first time, the winner was awarded a promotion tour around Europe, visiting Denmark, Spain, Sweden, the Netherlands, Greece, and Germany.

The event was sponsored by Nordic communications group TeliaSonera, and — as with several previous contests — Nobel Biocare.

Apocalyptica were the interval act, and played a medley of songs: Worlds Collide, Faraway and finally Life Burns!, but without the usual lyrics.

The European Broadcasting Union and Yle announced that the theme for the 2007 contest would be "True Fantasy", which embraced Finland and "Finnishness" in terms of the polarities associated with the country.

On 20 February 2007 a reworked official website for the contest was launched marking the first public exhibition of this year's theme.

In the event of technical difficulties, or if the votes of the country did not meet the EBU threshold, a back-up jury's results were to be used.

The Marcel Bezençon Awards, organised since 2002 by Sweden's then-Head of Delegation and 1992 representative Christer Björkman, and 1984 winner Richard Herrey, honours songs in the contest's final.

After all votes were cast, the top-ranked entry in the 2007 poll was also the winner of the contest, Serbia's "Molitva" performed by Marija Šerifović; the top five results are shown below.

The album featured all 42 songs that entered in the 2007 contest, including the semi-finalists that failed to qualify into the grand final.