The 700 series is characterized by its flat 'duck-bill' nose designed to reduce the piston effect as the trains enter tunnels.

16-car units are painted white with blue stripes beneath the windows, and are used for Nozomi, Hikari, and Kodama services on the Tokaido and San'yō Shinkansen lines, while 8-car units used for the San'yō Shinkansen Hikari Rail Star services have a darker livery (grey with black window areas and a yellow stripe beneath the windows) which also acts to visually deemphasize the units' nose area, resulting in a more streamlined impression.

As with the 500 series trains, yaw dampers are fitted between vehicles, and all cars feature semi-active suspension to ensure smooth ride characteristics at high speed.

The pre-series set, C0, was delivered in October 1997, and underwent endurance running mainly between Tokyo and Shin-Osaka until early 1999, including a short period of testing as an 8-car formation on the Sanyo Shinkansen.

New single-arm current collectors were fitted from the start, and these initially featured the distinctive "wine-glass" pantograph shrouds of the 300X train.

The refreshment counters of the 300 and 500 series trains were discontinued and replaced by vending machines selling drinks, located in cars 3, 7, 11, and 15.

Set numbers C25 onwards introduced from May 2001 incorporate minor interior design improvements, including power outlets at the ends of cars for PC users, and hand-grabs on the edge of aisle seats.

Between October 2008 and June 2009, JR Central's fleet of 60 700 series sets underwent modifications to increase the acceleration from the original 1.6 to 2 km/(h⋅s) (0.99 to 1.24 mph/s)on the Tokaido Shinkansen to improve timetable planning flexibility.

The last Tokaido Shinkansen 700 series run from Tokyo to Shin-Osaka had been scheduled to take place on 8 March 2020,[6] but was cancelled due to the outbreak of COVID-19 in Japan.

[7] This cancellation resulted in the last 700 series Tokaido Shinkansen run taking place a week earlier on 1 March 2020.

It was originally planned that sets would be able to operate coupled together, enabling 16-car formations to be run in busy periods, but this feature has never been utilized.

[10] Two Class 923 "Doctor Yellow" trains based on the 700 series design are used for track and overhead wire diagnostic work on the Tokaido and Sanyo Shinkansen lines.