diff --git a/CHANGELOG.md b/CHANGELOG.md
index eeace95653ee0..c03276ad48e1c 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -66,6 +66,9 @@ The format is based on [Keep a Changelog](http://keepachangelog.com/en/1.0.0/).
 
 ### Removed
 
+- Removed the deprecated `pytorch_lightning.core.memory.LayerSummary` and `pytorch_lightning.core.memory.ModelSummary` ([#12593](https://github.com/PyTorchLightning/pytorch-lightning/pull/12593))
+
+
 - Removed the deprecated `summarize` method from the `LightningModule` ([#12559](https://github.com/PyTorchLightning/pytorch-lightning/pull/12559))
 
 
diff --git a/pytorch_lightning/core/memory.py b/pytorch_lightning/core/memory.py
index d61164e6d88cb..4c4ea3a87425e 100644
--- a/pytorch_lightning/core/memory.py
+++ b/pytorch_lightning/core/memory.py
@@ -21,12 +21,3 @@
 
 # To support backward compatibility as get_memory_profile and get_gpu_memory_map have been moved
 from pytorch_lightning.utilities.memory import get_gpu_memory_map, get_memory_profile  # noqa: E402, F401 # isort: skip
-
-rank_zero_deprecation(
-    "`pytorch_lightning.core.memory.LayerSummary` and"
-    " `pytorch_lightning.core.memory.ModelSummary` have been moved"
-    " to `pytorch_lightning.utilities.model_summary` since v1.5 and will be removed in v1.7."
-)
-
-# To support backward compatibility as LayerSummary and ModelSummary have been moved
-from pytorch_lightning.utilities.model_summary import LayerSummary, ModelSummary  # noqa: E402, F401 # isort: skip
diff --git a/tests/deprecated_api/test_remove_1-7.py b/tests/deprecated_api/test_remove_1-7.py
index 62842317d3e57..98aedb0a3bcb7 100644
--- a/tests/deprecated_api/test_remove_1-7.py
+++ b/tests/deprecated_api/test_remove_1-7.py
@@ -45,12 +45,6 @@
 from tests.plugins.environments.test_lsf_environment import _make_rankfile
 
 
-def test_v1_7_0_moved_model_summary_and_layer_summary(tmpdir):
-    _soft_unimport_module("pytorch_lightning.core.memory")
-    with pytest.deprecated_call(match="to `pytorch_lightning.utilities.model_summary` since v1.5"):
-        from pytorch_lightning.core.memory import LayerSummary, ModelSummary  # noqa: F401
-
-
 def test_v1_7_0_moved_get_memory_profile_and_get_gpu_memory_map(tmpdir):
     _soft_unimport_module("pytorch_lightning.core.memory")
     with pytest.deprecated_call(match="to `pytorch_lightning.utilities.memory` since v1.5"):