In early 2007, the band announced a new World Tour, their first for nearly a decade to include dates outside North America or Japan. The band performed at London's Hard Rock Cafe in February 2007 to promote their European tour which included a night in Hyde Park as part of the Hyde Park Calling festival sponsored by Hard Rock Cafe. In the spring, the band toured Latin America to sold-out stadium crowds. In the summer, the band toured Europe, performing at several major rock festivals and visiting some countries they had never played before. Additionally, the band played Asian countries such as the United Arab Emirates and India for the first time. The band also played a few select dates in California and Canada in late July. One such date, a July 21 concert in Prince Edward Island, was the largest in that province's history. In September, the band performed eight dates in major markets in Northeastern North America. These shows were opened by Joan Jett. The band also played a private gig in Hawaii. A public show in Maui was canceled for logistical reasons, which spurred a class action lawsuit against the band. In April 2009, Aerosmith agreed to compensate all ticket buyers of the canceled show with a free ticket to a rescheduled Maui show to be held in September or October, along with reimbursements of all out-of-pocket expenses related to the show.

On November 1, 2007, the band began work on the final studio album of their current contract with Sony. It is believed that the album will be a mix of re-recorded tracks left off previous albums as well as brand new material. In an interview, guitarist Joe Perry revealed that in addition to creating a new album, the band was working closely with the makers of the Guitar Hero series to develop Guitar Hero: Aerosmith, which is dedicated to the band's music. The game was released on June 29, 2008 and contains many of their best songs. Steven Tyler announced on VH1 Classic Radio on September 4, 2008 that Aerosmith intends to enter the studio at the end of September 2008 to complete the band's 15th studio album. It will be the band's first album of original material since 2001's Just Push Play. Tyler also confirmed that the band plans to begin a new U.S. tour in June 2009, in support of the as-yet-untitled album. This tour was supposed to be preceded by a concert in Venezuela on February 1, 2009. However, on January 15, Tyler said the band would be unable to play the gig because of a second knee injury of guitarist Joe Perry. In mid-February 2009, it was announced that the album would be produced by the famed Brendan O’Brien and that the album would likely be recorded live, like their earlier records. Although the band had hoped to finish the album before the tour starts in June 2009, Perry said that the group "realized there wasn't any chance of getting [the album] finished before we hit the road for the summer." The tour is also slated to feature ZZ Top as the opening act. The Aerosmith/ZZ Top Tour, presented by Guitar Hero: Aerosmith, was officially announced and the first dates released on April 8, 2009. The tour will take the band across North America from June to September 2009.

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