Concerns the birth of the gods and the creation of the universe and human beings.
In the beginning there was only undifferentiated water swirling in chaos. Out of this swirl, the waters divided into sweet, fresh water, known as the god Apsu, and salty bitter water, the goddess Tiamat. Once differentiated, the union of these two entities gave birth to the younger gods.
These young gods, however, were extremely loud, troubling the sleep of Apsu at night and distracting him from his work by day. Upon the advice of his Vizier, Mummu, Apsu decides to kill the younger gods.
Tiamat, hearing of their plan, warns her eldest son, Enki (sometimes Ea) and he puts Apsu to sleep and kills him. From Apsu's remains, Enki creates his home. Tiamat, once the supporter of the younger gods, now is enraged that they have killed her mate.
She consults with the god, Quingu, who advises her to make war on the younger gods. Tiamat rewards Quingu with the Tablets of Destiny, which legitimize the rule of a god and control the fates, and he wears them proudly as a breastplate. With Quingu as her champion, Tiamat summons the forces of chaos and creates eleven horrible monsters to destroy her children.
Ea, Enki, and the younger gods fight against Tiamat futilely until, from among them, emerges the champion Marduk who swears he will defeat Tiamat. Marduk defeats Quingu and kills Tiamat by shooting her with an arrow which splits her in two; from her eyes flow the waters of the Tigris and Euphrates Rivers.
Out of Tiamat's corpse, Marduk creates the heavens and the earth, he appoints gods to various duties and binds Tiamat's eleven creatures to his feet as trophies (to much adulation from the other gods) before setting their images in his new home. He also takes the Tablets of Destiny from Quingu, thus legitimizing his reign.
After the gods have finished praising him for his great victory and the art of his creation, Marduk consults with the god Ea (the god of wisdom) and decides to create human beings from the remains of whichever of the gods instigated Tiamat to war. Quingu is charged as guilty and killed and, from his blood, Ea creates Lullu, the first man, to be a helper to the gods in their eternal task of maintaining order and keeping chaos at bay.
As the poem phrases it, "Ea created mankind/On whom he imposed the service of the gods, and set the gods free." Following this, Marduk "arranged the organization of the netherworld" and distributed the gods to their appointed stations. The poem ends in Tablet VII with long praise of Marduk for his accomplishments.