yum install java-1.7.0-icedtea

If you are running Fedora Rawhide (the Fedora development branch) you can now do:

yum install java-1.7.0-icedtea \
java-1.7.0-icedtea-devel \
java-1.7.0-icedtea-demo \
java-1.7.0-icedtea-plugin \

Just in time for Fedora 8 test 2! This is an experimental package based on OpenJDK b18 and IcedTea 1.3 and includes the browser plugin!

Note: When using x86_64 the above will install both the x86_64 and i586 versions. You want to make sure that you run update-alternative --config java to select the x86_64 version explicitly or bad things will happen since most jni libraries only come in 64bit variants.

More info: http://fedoraproject.org/wiki/Features/IcedTea.