The iMac "M1" 8-Core CPU/7-Core GPU/2 USB-C Shaped Ports (2021) model features a 5-nm Apple M1 processor with 8 cores (4 performance cores and 4 efficiency cores), a 7-core GPU, a 16-core Neural Engine, 8 GB of onboard RAM, and a 256 GB onboard SSD. Both the RAM and the SSD can be upgraded at the time of initial system purchase, but not subsequently.

This all is housed in a wafer thin aluminium case with flat edges that includes a 23.5" 4480x2520, 218 PPI, LED-backlit, "True Tone" widescreen "Retina 4.5K" display mounted on a svelte aluminium stand. This specific model is offered in the choice of three two-tone colour options -- blue, green (pictured), and pink -- as well as a "classic" uniform silver colour. It also has an integrated 1080pFaceTime HD camera, a "studio-quality three-mic array" and a "high-fidelity six-speaker system" that supports Spatial Audio with Dolby Atmos.

Connectivity includes two Thunderbolt / USB 4 ports, a 3.5 mm headphone jack conveniently mounted on the left edge of the display, Wi-Fi 6 (802.11ax), and Bluetooth 5.0. Gigabit Ethernet is available via a port on the power brick if purchased as an optional US$30 upgrade at the time of system purchase.

Compared to its predecessor, the "2021 M1" iMac models have little in common and instead feature an all new external design and a completely different internal architecture that no longer supports internal upgrades at all.