The Large Array Survey Telescope (LAST) is a wide-field visible-light telescope array designed to explore the variable and transient sky with a high cadence. LAST will be composed of 48, 28 cm f/2.2 telescopes (32 already installed) equipped with full-frame backside-illuminated cooled CMOS detectors. Each telescope provides a field of view (FoV) of 7.4 deg2 with 1.″25 pix−1, while the system FoV is 355 deg2 in 2.9 Gpix. The total collecting area of LAST, with 48 telescopes, is equivalent to a 1.9 m telescope. The cost-effectiveness of the system (i.e., probed volume of space per unit time per unit cost) is about an order of magnitude higher than most existing and under-construction sky surveys. The telescopes are mounted on 12 separate mounts, each carrying four telescopes. This provides significant flexibility in operating the system. The first LAST system is under construction in the Israeli Negev Desert, with 32 telescopes already deployed. We present the system overview and performances based on the system commissioning data. The B
p 5σ limiting magnitude of a single 28 cm telescope is about 19.6 (21.0), in 20 s (20 × 20 s). Astrometric two-axes precision (rms) at the bright-end is about 60 (30) mas in 20 s (20 × 20 s), while absolute photometric calibration, relative to GAIA, provides ∼10 millimag accuracy. Relative photometric precision, in a single 20 s (320 s) image, at the bright-end measured over a timescale of about 60 minutes is about 3 (1) millimag. We discuss the system science goals, data pipelines, and the observatory control system in companion publications.