In this paper Lie symmetry analysis of the seventh-order time fractional Sawada-Kotera-Ito (FSKI) equation with Riemann-Liouville derivative is performed. Using the Lie point symmetries of FSKI equation, it is shown that it can be transformed into a nonlinear ordinary differential equation of fractional order with a new dependent variable. In the reduced equation the derivative is in Erdelyi-Kober sense. Furthermore, adapting the Ibragimov's nonlocal conservation method to time fractional partial differential equations, we obtain conservation laws of the underlying equation. In addition, we construct some exact travelling wave solutions for the FSKI equation using the sub-equation method. (C) 2016 The Authors. Published by Elsevier B.V.