diff --git a/.changes/unreleased/Breaking Changes-20230530-174051.yaml b/.changes/unreleased/Breaking Changes-20230530-174051.yaml
new file mode 100644
index 000000000..c4d90db97
--- /dev/null
+++ b/.changes/unreleased/Breaking Changes-20230530-174051.yaml	
@@ -0,0 +1,6 @@
+kind: Breaking Changes
+body: Drop support for python 3.7
+time: 2023-05-30T17:40:51.510639-04:00
+custom:
+  Author: mikealfare
+  Issue: dbt-labs/dbt-core/7082
diff --git a/.github/scripts/integration-test-matrix.js b/.github/scripts/integration-test-matrix.js
index 58acf364d..bf7fd2ef7 100644
--- a/.github/scripts/integration-test-matrix.js
+++ b/.github/scripts/integration-test-matrix.js
@@ -1,6 +1,6 @@
 module.exports = ({ context }) => {
   const defaultPythonVersion = "3.8";
-  const supportedPythonVersions = ["3.7", "3.8", "3.9", "3.10", "3.11"];
+  const supportedPythonVersions = ["3.8", "3.9", "3.10", "3.11"];
   const supportedAdapters = ["bigquery"];
 
   // if PR, generate matrix based on files changed and PR labels
diff --git a/.github/workflows/main.yml b/.github/workflows/main.yml
index 74659c7ff..d2669b2d9 100644
--- a/.github/workflows/main.yml
+++ b/.github/workflows/main.yml
@@ -71,7 +71,7 @@ jobs:
     strategy:
       fail-fast: false
       matrix:
-        python-version: ['3.7', '3.8', '3.9', '3.10', '3.11']
+        python-version: ['3.8', '3.9', '3.10', '3.11']
 
     env:
       TOXENV: "unit"
@@ -174,7 +174,7 @@ jobs:
       fail-fast: false
       matrix:
         os: [ubuntu-latest, macos-latest, windows-latest]
-        python-version: ['3.7', '3.8', '3.9', '3.10', '3.11']
+        python-version: ['3.8', '3.9', '3.10', '3.11']
 
     steps:
       - name: Set up Python ${{ matrix.python-version }}
diff --git a/CONTRIBUTING.md b/CONTRIBUTING.md
index 9b765784e..64e00e96c 100644
--- a/CONTRIBUTING.md
+++ b/CONTRIBUTING.md
@@ -67,7 +67,7 @@ $EDITOR test.env
 There are a few methods for running tests locally.
 
 #### `tox`
-`tox` takes care of managing Python virtualenvs and installing dependencies in order to run tests. You can also run tests in parallel, for example you can run unit tests for Python 3.7, Python 3.8, Python 3.9, and `flake8` checks in parallel with `tox -p`. Also, you can run unit tests for specific python versions with `tox -e py37`. The configuration of these tests are located in `tox.ini`.
+`tox` takes care of managing Python virtualenvs and installing dependencies in order to run tests. You can also run tests in parallel, for example you can run unit tests for Python 3.8, Python 3.9, Python 3.10, Python 3.11, and `flake8` checks in parallel with `tox -p`. Also, you can run unit tests for specific python versions with `tox -e py38`. The configuration of these tests are located in `tox.ini`.
 
 #### `pytest`
 Finally, you can also run a specific test or group of tests using `pytest` directly. With a Python virtualenv active and dev dependencies installed you can do things like:
diff --git a/dev-requirements.txt b/dev-requirements.txt
index 3b83a1175..19415e6f9 100644
--- a/dev-requirements.txt
+++ b/dev-requirements.txt
@@ -8,25 +8,22 @@ git+https://github.com/dbt-labs/dbt-core.git@1.4.latest#egg=dbt-tests-adapter&su
 black~=23.1
 bumpversion~=0.6.0
 click~=8.1
-flake8~=5.0;python_version=="3.7"
-flake8~=6.0;python_version>="3.8"
+flake8~=6.0
 flaky~=3.7
 freezegun~=1.2
-ipdb~=0.13.11
-mypy==1.0.1  # patch updates have historically introduced breaking changes
-pip-tools~=6.12
-pre-commit~=2.21;python_version=="3.7"
-pre-commit~=3.1;python_version>="3.8"
+ipdb~=0.13.13
+mypy==1.2.0  # patch updates have historically introduced breaking changes
+pip-tools~=6.13
+pre-commit~=3.2
 pre-commit-hooks~=4.4
 pytest~=7.2
 pytest-csv~=3.0
 pytest-dotenv~=0.5.2
 pytest-logbook~=1.2
 pytest-xdist~=3.2
-pytz~=2022.7
-tox~=3.0;python_version=="3.7"
-tox~=4.4;python_version>="3.8"
-types-pytz~=2022.7
+pytz~=2023.3
+tox~=4.4
+types-pytz~=2023.3
 types-requests~=2.28
 types-protobuf~=4.0
 twine~=4.0
diff --git a/setup.py b/setup.py
index d60d0a8ba..6835fc3d6 100644
--- a/setup.py
+++ b/setup.py
@@ -2,9 +2,9 @@
 import sys
 
 # require python 3.7 or newer
-if sys.version_info < (3, 7):
+if sys.version_info < (3, 8):
     print("Error: dbt does not support this version of Python.")
-    print("Please upgrade to Python 3.7 or higher.")
+    print("Please upgrade to Python 3.8 or higher.")
     sys.exit(1)
 
 try:
@@ -87,7 +87,6 @@ def _dbt_core_version(plugin_version: str) -> str:
         "Operating System :: Microsoft :: Windows",
         "Operating System :: MacOS :: MacOS X",
         "Operating System :: POSIX :: Linux",
-        "Programming Language :: Python :: 3.7",
         "Programming Language :: Python :: 3.8",
         "Programming Language :: Python :: 3.9",
         "Programming Language :: Python :: 3.10",
diff --git a/tox.ini b/tox.ini
index 4d552ab44..efa18083d 100644
--- a/tox.ini
+++ b/tox.ini
@@ -1,8 +1,8 @@
 [tox]
 skipsdist = True
-envlist = py37,py38,py39,py310,py311
+envlist = py38,py39,py310,py311
 
-[testenv:{unit,py37,py38,py39,py310,py311,py}]
+[testenv:{unit,py38,py39,py310,py311,py}]
 description = unit testing
 skip_install = true
 passenv =
@@ -13,7 +13,7 @@ deps =
   -rdev-requirements.txt
   -e.
 
-[testenv:{integration,py37,py38,py39,py310,py311,py}-{bigquery}]
+[testenv:{integration,py38,py39,py310,py311,py}-{bigquery}]
 description = adapter plugin integration testing
 skip_install = true
 passenv =
@@ -28,7 +28,7 @@ deps =
   -rdev-requirements.txt
   -e.
 
-[testenv:{python-tests,py37,py38,py39,py310,py311,py}]
+[testenv:{python-tests,py38,py39,py310,py311,py}]
 description = python integration testing
 skip_install = true
 passenv =