The Legacy 500 is a mid-size business jet featuring a flat floor and stand-up cabin which was a first for this class of aircraft. Two Honeywell HTF7500E engines power the Legacy 500 each offering 7,036 pounds of thrust and using a combined 238 gallons per hour (GPH). The range of the Legacy 500 is 3,125 nm operating under NBAA IFR 4 passengers with available fuel.

The cabin volume for the Legacy 500 is 823 cubic feet. Typical configuration features 12 passenger and 2 crew seats.