The 2004 Toyota 4Runner is nearly identical to the 2003 model, which was a complete redesign from 2002.

The base engine is a 4.0-liter V6 rated at 245 horsepower and 283 lb/ft torque, with a 4.7-liter V8 rated at 235 horsepower and 325 lb/ft of torque available as an upgrade. The V6 gets 18/21 (4x2) or 17/20 (4x4) city/highway fuel efficiency, while the tow-intended V8 gets 16/19. Reviewers for both 2003 and 2004 have noted that the V8 is only necessary for heavy towing jobs; the V6 is so well designed that it should be able to handle 99% of what is put before it.

The 2004 4Runner-like the 2003-is larger than any of the earlier generations of 4Runners, with an extra 4.5 inches of length and a wheelbase that is 3 inches wider. Somehow, Toyota manages to make the 4Runner as easy to corner as the earlier, smaller models.