To represent one of the best Olympic Teams in the World, the Air Jordan 7 (VII) Olympic re-released. Some nicknames were given like the Jordan 7 Oly, or Dream Teams. The Retro Air Jordan 7 Olympic is a true piece of history.

The Olympic version of the Air Jordan Retro VII (7) was created to match the Red, White, Silver and Gold colors of the Olympic Jersey and even featured his number 9 that he wore on the back of the shoe. In 2004, the shoe was re-introduced on August 21st with a retail price of $125.

The Air Jordan VII was released in 1992. Tinker Hatfield created the Air Jordan VII which had many similarities with the Air Jordan VI model. The Air Jordan VII was unique because it used some of the Nike Huarache technology to create a shoe that really stuck to the consumer's foot. The visible air sole, the Nike Air logo, and the yellowing soles all were no longer featured on the Air Jordan VII. The Air Jordan VII model is also commonly known as the "Hares" because the commercials promoting the shoe featured cartoon character Bugs Bunny. This was the first Air-Jordan in the line that did not have any distinctive "Nike Air" on the outer portions of the shoe. The "Nike Air" can be found on the in-soles. Nike was unhappy about this, but the designer, Tinker Hatfield, had a greater vision believing that the "jumpman" could stand on its own. A precursor to "Jordan Brand" about 6–7 years down the road. When Jordan went to compete at the 1992 Barcelona Olympics to play for the US Men's Basketball Team (also known as the "Dream Team"), Nike released a special Olympic color combo of the Air Jordan VII model which featured Jordan's Olympic jersey number, 9 while all of the previous Air Jordan models that featured his jersey number had always been the number 23. Various retros of the Air Jordan VII were released in 2002, again in 2004, and again with different colors in 2006. Also in 2008 Nike released a black and blue pair owned only by Cheikh Mbacké, ordered for $600. In 2011 the Air Jordan VII saw releases in the "Orion" and "Bordeaux" colorways. Other colorways are confirmed for a 2011 release as well, such as the "Cardinals" and "Year of the Rabbits".