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V501 Her is a well detached G3 eclipsing binary star with a period of 8.597687 days for which we have determined very accurate light and radial-velocity curves using robotic telescopes. Results of these data indicate that the component stars have masses of 1.269 ± 0.004 and 1.211 ± 0.003 solar masses, radii of 2.001 ± 0.003 and 1.511 ± 0.003 solar radii, and temperatures of 5683 ± 100 K and 5720 ± 100 K, respectively. Comparison with the Yonsei–Yale series of evolutionary models results in good agreement at an age of about 5.1 Gyr for a somewhat metal-rich composition. Those models indicate that the more massive, larger, slightly cooler star is just beyond core hydrogen exhaustion while the less massive, smaller, slightly hotter star has not quite reached core hydrogen exhaustion. The orbit is not yet circularized, and the components are rotating at or near their pseudosynchronous velocities. The distance to the system is 420 ± 30 pc.