The 2007 League of Ireland Premier Division was the 23rd season of the League of Ireland Premier Division. The division was made up of 12 teams. Drogheda United were champions for the first time while St Patrick's Athletic finished as runners-up.

The close-period between the 2006 and 2007 seasons saw one of the biggest departures of senior talent from the League of Ireland and across the Irish Sea in recent times. The profile of the league had been improved by the recent successes of Derry City and Shelbourne in Europe. In addition former players such as Kevin Doyle, one of the top-scorers in the 2006–07 FA Premier League and once of Cork City, attracted attention from numerous managers in Scotland and England. Some of the top players to depart included David Forde and Jason Byrne, both of whom moved to Cardiff City. Cork City saw George O'Callaghan and Danny Murphy depart for Ipswich Town and Motherwell respectively. UCD players, Patrick Kavanagh and Gary Dicker both moved to Birmingham City. Others who made the journey across the water included Colin Hawkins, Trevor Molloy, Paul Keegan. League of Ireland managers also found themselves attracting interest with Stephen Kenny moving from Derry City to Dunfermline Athletic.

The league season kicked off on 9 March. Derry City were initially regarded as favourites to win the Premier Division by numerous bookmakers, closely followed by Drogheda United and Cork City. Despite this, Derry City made a poor start to the season losing to strong title-contenders St Patrick's Athletic and Drogheda United in their early-season encounters. They also lost 4–1 to Cork City at home in the fifth round of games. Meanwhile, St Patrick's Athletic raced into an early-season lead at the top of the table, having won all of their first five fixtures. With a third of the season remaining Drogheda United had risen to the top of the Premier Division table and have since sealed the first league title in their history. On 18 October they beat Cork City 2–1 at United Park which guaranteed the title for them. It had looked like they might have possibly had to wait another week to wrap up the league but a strike from Guy Bates in the last minute gave Drogheda victory on the night which was enough to see them become league champions. The relegation battle was very tight. Longford Town were bottom for the majority of the season, having been deducted six points but going into the final day of the season, they were just three points behind Waterford United and had a far superior goal difference. Longford did what they had to do by beating Derry City 3–1 but Waterford got a point which meant that Longford were relegated. Waterford were still not safe, though, as they had to play in the relegation/promotion playoff where they beaten by Finn Harps which meant that they were still relegated.

Finn Harps and Dundalk who finished second and third in the First Division played off against Waterford United who finished eleventh in the Premier Division.

Finn Harps qualified for second round.

Finn Harps win 6–3 on aggregate and are promoted to Premier Division.

After winning the First Division, Cobh Ramblers also qualified for the new Setanta Sports Cup play-off. Their opponents were Derry City, the winners of the 2007 League of Ireland Cup.

Derry City qualify for 2008 Setanta Sports Cup.