Java SE 7 is scheduled to ship on July 28, 2011 with a first release candidate set for May 2011.
Oracle released a roadmap for the next major revision of the Java SE Platform, version 7. According to the plan, Java SE 7 is scheduled to ship on July 28, 2011.
Next month, on December 16, the "feature complete" milestone is expected to be met. A first release candidate is scheduled for May 5, 2011.