We set out to determine the optimal ASIC standard cell library composition for 7nm technology on the basis of power, chip area and delay considerations. We used the publicly available ASAP7, the 7nm FinFET technology from Arizona State University. We also used state-of-the-art commercial computer-aided design (CAD) tools to execute our study. In particular, we synthesized designs using Synopsys’ Design Vision and then physical synthesis was performed using Cadence’s Innovus. Cell characterization was performed using Synopsys’ SiliconSmart. Our results show that standard cell libraries with many fewer cell types than currently used in industry yield the best results. Further, the results suggest that an optimal standard cell library comprises 18 functions along with a rather limited number of drive strengths.