diff --git a/actionpack/CHANGELOG.md b/actionpack/CHANGELOG.md
index f9af8934fd..ea4217c0d5 100644
--- a/actionpack/CHANGELOG.md
+++ b/actionpack/CHANGELOG.md
@@ -1,5 +1,9 @@
 ## Rails 4.0.0 (unreleased) ##
 
+*   Fix #7646, the log now displays the correct status code when an exception is raised.
+
+    *Yves Senn*
+
 *   Allow pass couple extensions to ActionView::Template.register_template_handler call. *Tima Maslyuchenko*
 
 *   Sprockets integration has been extracted from Action Pack and the `sprockets-rails` 
diff --git a/actionpack/lib/action_controller/log_subscriber.rb b/actionpack/lib/action_controller/log_subscriber.rb
index a7c0e971e7..f41d1bb4b9 100644
--- a/actionpack/lib/action_controller/log_subscriber.rb
+++ b/actionpack/lib/action_controller/log_subscriber.rb
@@ -19,7 +19,8 @@ module ActionController
 
       status = payload[:status]
       if status.nil? && payload[:exception].present?
-        status = ActionDispatch::ExceptionWrapper.new({}, payload[:exception]).status_code
+        exception_class_name = payload[:exception].first
+        status = ActionDispatch::ExceptionWrapper.status_code_for_exception(exception_class_name)
       end
       message = "Completed #{status} #{Rack::Utils::HTTP_STATUS_CODES[status]} in %.0fms" % event.duration
       message << " (#{additions.join(" | ")})" unless additions.blank?
diff --git a/actionpack/lib/action_dispatch/middleware/exception_wrapper.rb b/actionpack/lib/action_dispatch/middleware/exception_wrapper.rb
index 7349b578d2..ae38c56a67 100644
--- a/actionpack/lib/action_dispatch/middleware/exception_wrapper.rb
+++ b/actionpack/lib/action_dispatch/middleware/exception_wrapper.rb
@@ -37,7 +37,7 @@ module ActionDispatch
     end
 
     def status_code
-      Rack::Utils.status_code(@@rescue_responses[@exception.class.name])
+      self.class.status_code_for_exception(@exception.class.name)
     end
 
     def application_trace
@@ -52,6 +52,10 @@ module ActionDispatch
       clean_backtrace(:all)
     end
 
+    def self.status_code_for_exception(class_name)
+      Rack::Utils.status_code(@@rescue_responses[class_name])
+    end
+
     private
 
     def original_exception(exception)
diff --git a/actionpack/test/controller/log_subscriber_test.rb b/actionpack/test/controller/log_subscriber_test.rb
index 700fd788fa..a72b6dde1a 100644
--- a/actionpack/test/controller/log_subscriber_test.rb
+++ b/actionpack/test/controller/log_subscriber_test.rb
@@ -54,6 +54,10 @@ module Another
     def with_rescued_exception
       raise SpecialException
     end
+
+    def with_action_not_found
+      raise AbstractController::ActionNotFound
+    end
   end
 end
 
@@ -225,6 +229,17 @@ class ACLogSubscriberTest < ActionController::TestCase
     assert_match(/Completed 406/, logs.last)
   end
 
+  def test_process_action_with_with_action_not_found_logs_404
+    begin
+      get :with_action_not_found
+      wait
+    rescue AbstractController::ActionNotFound
+    end
+
+    assert_equal 2, logs.size
+    assert_match(/Completed 404/, logs.last)
+  end
+
   def logs
     @logs ||= @logger.logged(:info)
   end