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The 700P series appears to have been influenced by the designs, features, and success of the M24 Sniper Weapon System and the M40 series, with one feature of the Model 700P series being the heavier and thicker barrel for increased accuracy and reduced recoil.
The rifle was chambered for .308 Winchester cartridge as well as the .223 Remington, .243 Winchester, 7 mm Remington Magnum, .300 Winchester Magnum, .300 Remington Ultra Magnum, and .338 Lapua Magnum.
The receiver is milled from round cross-section steel.
The Remington 700 comes in a large number of variants, with different stocks, barrel configurations, metal finishes and calibers.
Heavy barrel versions with laminated stocks like the Model 700 SPS varmint are available for varmint hunting.