Oracle today released Java for Mac OS X Version 7 Update 7.

Mac OS X System Requirements:
• Intel-based Mac running Mac OS X 10.7.3 (Lion) or later.
• Administrator privileges
• 64-bit browser

Note that installing Java on a Mac is performed on a system wide basis, for all users, and administrator privileges are required. You cannot install Java on a single-user basis.

A 64-bit browser (Safari or Firefox, for example) is required to run Java 7 on Mac OS X. Java 7 does not support 32-bit browsers such as Chrome on the Mac platform.

For users of Mac OS X 10.7.3 and above: In System Preferences click on the Java icon to access the Java Control Panel.

More info and download link via java.com here.