The decade started out with the legendary Agostini-MV Agusta combination taking the 350-500 world championships in 1970, 71' and 72'. In 1972 Agostini was faced with stiff competition from a team led by Jarno Saarinen on hissing Yamaha two-stroke machines. MV Agusta responded with a winning 4 cylinder 350, easier to handle and offering better performance than its predecessor, while experimenting with 6 cylinder fractioning, which was however prohibited by the new technical regulations.

By 1973 the growth of the two-stroke engine appeared to dominate in the premiere class too, forcing MV Agusta to come up with a new version of its four cylinder 500.  This model, with over 80 HP at 14,000 rpm, equipped with disc brakes and light alloy wheels, allowed Phil Read to win the 500 title. In the lower class the World Championships went to Giacomo Agostini, who officially went over to Yamaha at the end of the season. The decision led the team to abandon the 350 class to concentrate on what was to be the last evolution of the 500 engine.

The bike, driven by an inline 4 inclined by 10 degrees, achieved a power of 102 HP at 14,600 rpm and brought Phil Read his last World Championship for Cascina Costa in 1974. The following year saw experimentation with a version of the 4 cylinder bike fitted with a frame with "monocross" type rear suspension, a solution which did not bring the expected results. 1976 was MV Agusta's last year racing. The season began with great excitement over Giacomo Agostini's return to MV Agusta. The silver and red fairing gave way to the red and white livery of Marlboro, the Italian rider's personal sponsor. His return was difficult, and Agostini had a hard time keeping up with Yamaha and Suzuki; halfway through the season he left MV Agusta for Suzuki. 

With no hope of winning the championship, taken by the rising Barry Sheene on his Suzuki, Agostini went back to MV Agusta for the Nurburgring grand prix, where he battled for a last historical victory, capping off a series of 270 grand prix wins and 75 world championships (38 drivers' and 37 manufacturers').