The moderately fast Nova Oph 2007 reached maximum brightness on March 28, 2007 at V=8.52, B-V=+1.12, V-Rc=+0.76, V-Ic=+1.59 and Rc-Ic=+0.83, after fast initial rise and a pre-maximum halt lasting a week. Decline times were t(V,2)=26.5, t(B,2)=30, t(V,3)=48.5 and t(B,3)=56.5 days. The distance to the nova is d=3.7 kpc, the height above the galactic plane z=215 pc, the reddening E(B-V)=0.90 and the absolute magnitude at maximum M(V,max)=-7.2 and M(B,max)=-7.0. The spectrum four days before maximum resembled a F6 super-giant, in agreement with broad-band colors. It later developed into that of a standard FeII-class nova. Nine days past maximum, the expansion velocity estimated from the width of H$alpha$ emission component was 730 km/s, and the displacement from it of the principal and diffuse enhanced absorption systems were 650 and 1380 km/s, respectively. Dust probably formed and disappeared during the period from 82 to 100 days past maximum, causing (at peak dust concentration) an extinction of Delta B=1.8 mag and an extra Delta E(B-V)=0.44 reddening.