diff --git a/integration/BUILD.bazel b/integration/BUILD.bazel
index 6c9dfc1da1ca0..23b8b96dd871d 100644
--- a/integration/BUILD.bazel
+++ b/integration/BUILD.bazel
@@ -88,6 +88,7 @@ INTEGRATION_TESTS = {
     "service-worker-schema": {},
     "side-effects": {"tags": ["no-ivy-aot"]},
     "terser": {},
+    "typings_test_rxjs7": {},
     "typings_test_ts41": {
         # Special case for `typings_test_ts41` test as we want to pin
         # `typescript` at version 4.1.x for that test and not link to the
diff --git a/integration/typings_test_rxjs7/include-all.ts b/integration/typings_test_rxjs7/include-all.ts
new file mode 100644
index 0000000000000..86b57f2789d8d
--- /dev/null
+++ b/integration/typings_test_rxjs7/include-all.ts
@@ -0,0 +1,69 @@
+/**
+ * @license
+ * Copyright Google LLC All Rights Reserved.
+ *
+ * Use of this source code is governed by an MIT-style license that can be
+ * found in the LICENSE file at https://angular.io/license
+ */
+
+
+
+import * as animations from '@angular/animations';
+import * as animationsBrowser from '@angular/animations/browser';
+import * as animationsBrowserTesting from '@angular/animations/browser/testing';
+import * as common from '@angular/common';
+import * as commonHttp from '@angular/common/http';
+import * as commonTesting from '@angular/common/testing';
+import * as commonHttpTesting from '@angular/common/testing';
+import * as compiler from '@angular/compiler';
+import * as compilerTesting from '@angular/compiler/testing';
+import * as core from '@angular/core';
+import * as coreTesting from '@angular/core/testing';
+import * as elements from '@angular/elements';
+import * as forms from '@angular/forms';
+import * as platformBrowser from '@angular/platform-browser';
+import * as platformBrowserDynamic from '@angular/platform-browser-dynamic';
+import * as platformBrowserDynamicTesting from '@angular/platform-browser-dynamic/testing';
+import * as platformBrowserAnimations from '@angular/platform-browser/animations';
+import * as platformBrowserTesting from '@angular/platform-browser/testing';
+import * as platformServer from '@angular/platform-server';
+import * as platformServerInit from '@angular/platform-server/init';
+import * as platformServerTesting from '@angular/platform-server/testing';
+import * as router from '@angular/router';
+import * as routerTesting from '@angular/router/testing';
+import * as routerUpgrade from '@angular/router/upgrade';
+import * as serviceWorker from '@angular/service-worker';
+import * as upgrade from '@angular/upgrade';
+import * as upgradeStatic from '@angular/upgrade/static';
+import * as upgradeTesting from '@angular/upgrade/static/testing';
+
+export default {
+  animations,
+  animationsBrowser,
+  animationsBrowserTesting,
+  common,
+  commonTesting,
+  commonHttp,
+  commonHttpTesting,
+  compiler,
+  compilerTesting,
+  core,
+  coreTesting,
+  elements,
+  forms,
+  platformBrowser,
+  platformBrowserTesting,
+  platformBrowserDynamic,
+  platformBrowserDynamicTesting,
+  platformBrowserAnimations,
+  platformServer,
+  platformServerInit,
+  platformServerTesting,
+  router,
+  routerTesting,
+  routerUpgrade,
+  serviceWorker,
+  upgrade,
+  upgradeStatic,
+  upgradeTesting,
+};
diff --git a/integration/typings_test_rxjs7/package.json b/integration/typings_test_rxjs7/package.json
new file mode 100644
index 0000000000000..4161f8d00adfa
--- /dev/null
+++ b/integration/typings_test_rxjs7/package.json
@@ -0,0 +1,28 @@
+{
+  "name": "angular-integration",
+  "description": "Assert that users with rxjs 7 can type-check an Angular application",
+  "version": "0.0.0",
+  "license": "MIT",
+  "dependencies": {
+    "@angular/animations": "file:../../dist/packages-dist/animations",
+    "@angular/common": "file:../../dist/packages-dist/common",
+    "@angular/compiler": "file:../../dist/packages-dist/compiler",
+    "@angular/compiler-cli": "file:../../dist/packages-dist/compiler-cli",
+    "@angular/core": "file:../../dist/packages-dist/core",
+    "@angular/elements": "file:../../dist/packages-dist/elements",
+    "@angular/forms": "file:../../dist/packages-dist/forms",
+    "@angular/platform-browser": "file:../../dist/packages-dist/platform-browser",
+    "@angular/platform-browser-dynamic": "file:../../dist/packages-dist/platform-browser-dynamic",
+    "@angular/platform-server": "file:../../dist/packages-dist/platform-server",
+    "@angular/router": "file:../../dist/packages-dist/router",
+    "@angular/service-worker": "file:../../dist/packages-dist/service-worker",
+    "@angular/upgrade": "file:../../dist/packages-dist/upgrade",
+    "@types/jasmine": "file:../../node_modules/@types/jasmine",
+    "rxjs": "^7.3.0",
+    "typescript": "file:../../node_modules/typescript",
+    "zone.js": "file:../../dist/zone.js-dist/archive/zone.js.tgz"
+  },
+  "scripts": {
+    "test": "tsc"
+  }
+}
diff --git a/integration/typings_test_rxjs7/tsconfig.json b/integration/typings_test_rxjs7/tsconfig.json
new file mode 100644
index 0000000000000..30e25c2209734
--- /dev/null
+++ b/integration/typings_test_rxjs7/tsconfig.json
@@ -0,0 +1,26 @@
+{
+  "compilerOptions": {
+    "forceConsistentCasingInFileNames": true,
+    "strict": true,
+    "noImplicitReturns": true,
+    "noFallthroughCasesInSwitch": true,
+    "experimentalDecorators": true,
+    "module": "commonjs",
+    "moduleResolution": "node",
+    "outDir": "./dist/out-tsc",
+    "rootDir": ".",
+    "target": "es5",
+    "lib": [
+      "es5",
+      "dom",
+      "es2015.collection",
+      "es2015.iterable",
+      "es2015.promise"
+    ],
+    "types": [],
+  },
+  "files": [
+    "include-all.ts",
+    "node_modules/@types/jasmine/index.d.ts"
+  ]
+}
diff --git a/packages/common/package.json b/packages/common/package.json
index f724fee08f6e4..f9ad0716b0a77 100644
--- a/packages/common/package.json
+++ b/packages/common/package.json
@@ -13,7 +13,7 @@
   },
   "peerDependencies": {
     "@angular/core": "0.0.0-PLACEHOLDER",
-    "rxjs": "^6.5.3"
+    "rxjs": "^6.5.3 || ^7.0.0"
   },
   "repository": {
     "type": "git",
diff --git a/packages/common/test/pipes/async_pipe_spec.ts b/packages/common/test/pipes/async_pipe_spec.ts
index ef511532407e6..51abaab62f2e7 100644
--- a/packages/common/test/pipes/async_pipe_spec.ts
+++ b/packages/common/test/pipes/async_pipe_spec.ts
@@ -22,7 +22,7 @@ import {Subscribable, Unsubscribable} from 'rxjs';
       // the implementation does not rely on other methods:
       const wrapSubscribable = <T>(input: Subscribable<T>): Subscribable<T> => ({
         subscribe(...args: any): Unsubscribable {
-          const subscription = input.subscribe(...args);
+          const subscription = input.subscribe.apply(input, args);
           return {
             unsubscribe() {
               subscription.unsubscribe();
diff --git a/packages/core/package.json b/packages/core/package.json
index e95a79abecbcc..e0b585d592e9a 100644
--- a/packages/core/package.json
+++ b/packages/core/package.json
@@ -11,7 +11,7 @@
     "tslib": "^2.2.0"
   },
   "peerDependencies": {
-    "rxjs": "^6.5.3",
+    "rxjs": "^6.5.3 || ^7.0.0",
     "zone.js": "~0.11.4"
   },
   "repository": {
diff --git a/packages/core/test/acceptance/property_binding_spec.ts b/packages/core/test/acceptance/property_binding_spec.ts
index fdf7ca9a4b3fa..3a5b9645a349b 100644
--- a/packages/core/test/acceptance/property_binding_spec.ts
+++ b/packages/core/test/acceptance/property_binding_spec.ts
@@ -187,7 +187,7 @@ describe('property bindings', () => {
     })
     class OtherDir {
       @Input() id: number|undefined;
-      @Output('click') clickStream = new EventEmitter();
+      @Output('click') clickStream = new EventEmitter<void>();
     }
 
     @Directive({
diff --git a/packages/elements/package.json b/packages/elements/package.json
index 95b74663b1bd0..3da5fa0277ae9 100644
--- a/packages/elements/package.json
+++ b/packages/elements/package.json
@@ -13,7 +13,7 @@
   "peerDependencies": {
     "@angular/core": "0.0.0-PLACEHOLDER",
     "@angular/platform-browser": "0.0.0-PLACEHOLDER",
-    "rxjs": "^6.5.3"
+    "rxjs": "^6.5.3 || ^7.0.0"
   },
   "repository": {
     "type": "git",
diff --git a/packages/forms/package.json b/packages/forms/package.json
index 1d9931e480e8f..33cb036b42ff2 100644
--- a/packages/forms/package.json
+++ b/packages/forms/package.json
@@ -14,7 +14,7 @@
     "@angular/core": "0.0.0-PLACEHOLDER",
     "@angular/common": "0.0.0-PLACEHOLDER",
     "@angular/platform-browser": "0.0.0-PLACEHOLDER",
-    "rxjs": "^6.5.3"
+    "rxjs": "^6.5.3 || ^7.0.0"
   },
   "repository": {
     "type": "git",
diff --git a/packages/misc/angular-in-memory-web-api/package.json b/packages/misc/angular-in-memory-web-api/package.json
index 796d9da10ebd8..d0621050f69cf 100644
--- a/packages/misc/angular-in-memory-web-api/package.json
+++ b/packages/misc/angular-in-memory-web-api/package.json
@@ -5,9 +5,9 @@
   "author": "angular",
   "license": "MIT",
   "peerDependencies": {
-    "@angular/core": "^12.0.0-next.6",
-    "@angular/common": "^12.0.0-next.6",
-    "rxjs": "^6.5.3"
+    "@angular/core": "^12.0.0",
+    "@angular/common": "^12.0.0",
+    "rxjs": "^6.5.3 || ^7.0.0"
   },
   "dependencies": {
     "tslib": "^2.2.0"
diff --git a/packages/router/package.json b/packages/router/package.json
index 89860e526b7b1..30e91c1a5a5b3 100644
--- a/packages/router/package.json
+++ b/packages/router/package.json
@@ -27,7 +27,7 @@
     "@angular/core": "0.0.0-PLACEHOLDER",
     "@angular/common": "0.0.0-PLACEHOLDER",
     "@angular/platform-browser": "0.0.0-PLACEHOLDER",
-    "rxjs": "^6.5.3"
+    "rxjs": "^6.5.3 || ^7.0.0"
   },
   "ng-update": {
     "packageGroup": "NG_UPDATE_PACKAGE_GROUP"