diff --git a/arch/arc/Kconfig b/arch/arc/Kconfig
index 6a77b8f..c6b1efe 100644
--- a/arch/arc/Kconfig
+++ b/arch/arc/Kconfig
@@ -5,7 +5,7 @@ config SYS_ARCH
 	default "arc"
 
 config SYS_CPU
-	default "arc700"
+	default "arcv1"
 
 choice
 	prompt "Target select"
diff --git a/arch/arc/cpu/arc700/Makefile b/arch/arc/cpu/arcv1/Makefile
similarity index 100%
rename from arch/arc/cpu/arc700/Makefile
rename to arch/arc/cpu/arcv1/Makefile
diff --git a/arch/arc/cpu/arc700/config.mk b/arch/arc/cpu/arcv1/config.mk
similarity index 100%
rename from arch/arc/cpu/arc700/config.mk
rename to arch/arc/cpu/arcv1/config.mk
diff --git a/arch/arc/cpu/arc700/start.S b/arch/arc/cpu/arcv1/start.S
similarity index 100%
rename from arch/arc/cpu/arc700/start.S
rename to arch/arc/cpu/arcv1/start.S