This book constitutes the refereed proceedings of the 7th International Symposium on Parameterized and Exact Computation, IPEC 2012, in Ljubljana, Slovenia, in September 2012. The 21 revised full papers presented together with 2 keynote talks were carefully reviewed and selected from 37 submissions. The topics addressed cover research in all aspects of parameterized/exact algorithms and complexity including but are not limited to new techniques for the design and analysis of parameterized and exact algorithms; fixed-parameter tractability results; parameterized complexity theory; relationship between parameterized complexity and traditional complexity classifications; applications of parameterized and exact computation; and implementation issues of parameterized and exact algorithms.