Although there is an in build defragmentation tool in Windows 7, it comes with lesser features when it compared to third party tools. O&O Defrag is one such tool which comes with good features, but this utility is not a free one. Generally the O&O Defrag costs around $50, but now you can get a full professional version for free, but the version is a bit older than the current one. You can now get the O&O Defrag Professional version 10 for free and this version was released back in 2007.
Although the version 10 is not officially supported on Windows 7, we have installed it on Windows 7 Ultimate and couldnt find any issues. The current version of O&O Defrag is 12 which has more features than the version 10.
You need to register with the special promo page and the license and also the download links are send through email.
Register for Free O&O Defrag Version 10
Thanks to CybernetNews for this tip.