  We confirmed the binary nature of the Be star 7~Vul, derived a~more accurate
spectroscopic orbit with an orbital period of (69.4212+/-0.0034) d, and
improved the knowledge of the basic physical elements of the system. Analyzing
available photometry and the strength of the \ha emission, we also document the
long-term spectral variations of the Be primary. In addition, we confirmed
rapid light changes with a~period of 0.5592 d, which is comparable to the
expected rotational period of the Be primary, but note that its amplitude and
possibly its period vary with time. We were able to disentangle only the He I
6678 A line of the secondary, which could support our tentative conclusion that
the secondary appears to be a hot subdwarf. A search for this object in
high-dispersion far-UV spectra could provide confirmation. Probable masses of
the binary components are ($6\pm1$)~Mnom \ and ($0.6\pm0.1$)~Mnom. If the
presence of a hot subdwarf is firmly confirmed, 7 Vul might be identified as a
rare object with a B4-B5 primary; all Be + hot subdwarf systems found so far
contain B0-B3 primaries.
