Context. The charged-particle induced reactions on lithium have been studied by several works. In particular, several direct measurements of the 7 Li(p, α) 4 He reaction have been performed to extrapolate its low-energy astrophysical S (E)-factor and evaluate the electron screening potential, Ue. Aims. In view of recent direct measurements, we discuss our estimate of the bare-nucleus S (E)-factor and an evaluation of the corresponding reaction rate. Moreover, we present the extracted electron screening potential. Methods. The Trojan Horse method (THM) allows us to measure the 7 Li(p, α) 4 He bare-nucleus S (E)-factor down to energies of ∼10 keV, rendering unnecessary the extrapolation procedure typically used by the direct measurements. The 7 Li(p, α) 4 He S (E)-factor is deduced from the 2 H( 7 Li, α 4 He)n reaction by selecting the quasi-free contribution to the reaction yield. The planewave impulse approximation has proved an effective approach as distortions appear negligible. Results. The THM enable us to measure the 7 Li(p, α) 4 He S (E)-factor over the energy region of interest for astrophysics, namely 0.01 < Ecm < 0.4 MeV. The zero-energy S (E)-factor and the Ue electron screening potential have been measured and compared with the available direct data. From the TH measure of the 7 Li(p, α) 4 He S (E)-factor, the reaction rate calculation has been performed in correspondence with the temperature window of 0.01 < T9 < 2, which is typical of several astrophysical sites where Li burning could shed light on some open questions, such as mixing phenomena. A variation of ∼13%, with respect the adopted NACRE one, has been found at temperatures of about T9 = 10 −3 , while a variation of ∼5% has been found at higher temperatures. By considering in the calculation the upper and lower limits to the TH reaction rate, no significant variation in the Li abundances of low mass giant stars follows or, if any modification occurs, this is negligible in comparison to the uncertainties in the free parameters considered in the extra-mixing model of Palmerini and collaborators.