Oracle has released Java Version 7 Update 11 which corrects recent zero day security issues.

Mac OS X System Requirements
• Intel-based Mac running Mac OS X 10.7.3 (Lion) or later.*
• Administrator privileges for installation
• 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. 32-bit browsers such as Chrome do not support Java 7 on the Mac platform.

* Users with Mac OS X versions 10.6 and below should go to Software Update under the Apple menu to look for updates.

More info and download link here.

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Apple uninstalls Java applet plug-in from all web browsers – October 17, 2012
New zero-day Java exploit puts 1 billion PCs and Macs running OS X 10.6 or earlier at risk – September 26, 2012
Warning: New Java trojan targets Apple’s OS X along with Windows, Linux – July 11, 2012
Apple releases Java Update to remove Flashback trojan – April 12, 2012
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Jobs: Having Oracle, not Apple, release timely Java updates better for Mac users – October 22, 2010
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