The fourth-generation Mitsubishi Pajero (V80 and V90 model designations) debuted at the 2006 Paris Motor Show. Retaining the monocoque architecture with integrated ladder frame and independent suspension, it featured completely redesigned exterior body panels, an upgraded cabin environment, and reinforced RISE safety cell engineering. Available in three-door (V80) and five-door (V90) variants, it preserved high off-road capabilities. Engineering of the Pajero IV (V80) (factory code V80) emphasized high structural rigidity, aerodynamic efficiency, and optimized interior spatial packaging. Built with reinforced body structures utilizing high-tensile steel alloys, the platform delivered reduced curb weight alongside improved occupant crash protection. The vehicle was distributed globally in multiple configuration packages designed to satisfy diverse market demands and regional regulatory specifications.

Engine options centered on 3.0-liter V6 (6G72) and 3.8-liter V6 MIVEC (6G75, 250 hp) petrol engines, alongside an updated 3.2-liter 4M41 DI-D turbodiesel engine producing up to 200 horsepower. The Super Select II 4WD transfer case was integrated with ASTC electronic stability control and a locking rear differential. Over its extended production run, the model received multiple facelifts in 2011 and 2014, concluding final production in 2021. The powertrain lineup incorporated efficient engine families paired with robust manual, automatic, or continuously variable transmissions depending on trim selection. Drivetrain engineering integrated advanced suspension tuning and traction management systems.