This research paper comprehensively presents the derivation of a seventh-order iteration scheme designed to obtain simple roots of nonlinear equations through the utilization of Lagrange interpolation technique. The scheme is characterized by the requirement for three function evaluations and one evaluation of the first derivative in each iteration. A detailed convergence analysis is also carried out to assess the efficacy of the proposed method. Additionally, the paper includes comprehensive numerical experiments aimed at confirming the theoretical results and illustrating the competitive performance of the derived iteration scheme.