The CV90 Mk IV can be fitted with a two-man turret or an unmanned weapon station. The two-man power-operated turret is of all-welded steel construction, with the commander seated on the left and the gunner on the right, with both crew members having a single-piece hatch cover that opens to the rear. Turret traverse and weapon elevation are all-electric with manual controls provided for emergency use. The vehicle is fitted with the D series modular turret which can be armed with different types of armament, from 30/40-mm and 35/50-mm automatic cannons up to 120-mm smooth-bore tank cannon. The second armament can include Spike LR or other anti-tank guided missile launchers and a 7.62 mm coaxial machine gun. For the CV 90 Mk IV the coaxial machine gun is mounted to an independent pod located on the left side of the turret. This weapon pod can be armed 40mm automatic grenade launcher, 7.62mm machine gun or laser weapon. The right side of the turret is fitted with two anti-tank missile launchers stored under armor in road position and elevated from inside of the turret to perform fire operations. This storage box can be replaced to host UAV or other observation or reconnaissance devices. Eight smoke grenade dischargers are mounted under armor on each side at the front of the turret.

The design of the CV90 Mk IV is very similar to the original CV 90 with the driver seated front left, the power pack to his right, the turret in the center, and the troop's compartment at the rear of the hull. The CV90 Mk IV is of all-welded steel armor construction. The CV90 basic armor provides all-around protection against 14.5 mm armor-piercing rounds. Armor protection over the frontal arc is classified, but all models from CV90 and later are said to be protected against 30 mm APFSDS (Armor-piercing fin-stabilized discarding sabot) ammunition. The CV90 Mk IV has a crew of three with a manned turret including the driver, commander and gunner. The rear part of the hull can accommodate up to eight infantrymen seated four on each side facing each other with each man having an anti-blast mine seat. The infantry enters and leaves via a large hydraulic ramp in the rear of the hull. To increase protection the CV90 Mk IV can be equipped with APS (Active Protection System). In June 2018, during the Eurosatory defense exhibition in Paris, the CV90 was fitted with the Israeli-made Iron Fist APS designed by Israel Military Industries (IMI) mounted on the roof of the turret consisting of two launchers of explosive projectile interceptors. The sensor suite of the APS provides a long-range real-time 360º panoramic view of the vehicle’s vicinity and provides the vehicle with the capability to react and counterattack at no time. It provides 360° coverage protection in high elevation angles. The threats are detected thanks to the use of an active electronically scanned array radar sensor developed by RADA Electronic Industries and an optional passive infrared detector developed by Elbit's Elisra. When a threat is imminent, an explosive projectile interceptor is launched towards it. The interceptor explodes very near the threat, destroying or deflecting and destabilizing it without detonating its warhead. The interceptor is a mortar-shell-like projectile with a combustible blast warhead that creates a shockwave upon detonation sufficient to defeat the incoming threat. Modern protection systems of the vehicle also include a jammer system to counter infrared missiles and laser detector devices.