I wake up at 7 o'clock with my alarm clock.

Literal

Alarm-clock [by-で], I [topic-は] 7-o'clock [at-に] eyes [obj-を] wake.

目を覚ます ('open one's eyes, wake up') is the transitive/volitional version of 目が覚める. で marks the alarm as the instrument. A routine daily description.