diff --git a/.github/workflows/flyteidl-release.yml b/.github/workflows/flyteidl-release.yml
index c69983ce05..448d660b80 100644
--- a/.github/workflows/flyteidl-release.yml
+++ b/.github/workflows/flyteidl-release.yml
@@ -20,12 +20,6 @@ jobs:
         run: |
           python -m pip install --upgrade pip
           pip install setuptools wheel twine
-      - name: Set version in python package
-        run: |
-          # from refs/tags/v1.2.3 get 1.2.3
-          VERSION=$(echo $GITHUB_REF | sed 's#.*/v##')
-          VERSION=$VERSION make update_pyversion
-        shell: bash
       - name: Build and publish
         env:
           TWINE_USERNAME: ${{ secrets.PYPI_USERNAME }}
diff --git a/flyteidl/Makefile b/flyteidl/Makefile
index 8f51682707..2c7276fa98 100644
--- a/flyteidl/Makefile
+++ b/flyteidl/Makefile
@@ -43,14 +43,8 @@ doc_gen_deps:
 doc-requirements.txt: doc-requirements.in install-piptools
 	$(call PIP_COMPILE,doc-requirements.in)
 
-PLACEHOLDER := "__version__\ =\ \"0.0.0+develop\""
 PLACEHOLDER_NPM := \"version\": \"0.0.0-develop\"
 
-.PHONY: update_pyversion
-update_pyversion:
-	grep "$(PLACEHOLDER)" "setup.py"
-	sed -i "s/$(PLACEHOLDER)/__version__ = \"${VERSION}\"/g" "setup.py"
-
 .PHONY: update_npmversion
 update_npmversion:
 	grep "$(PLACEHOLDER_NPM)" "package.json"
diff --git a/flyteidl/pyproject.toml b/flyteidl/pyproject.toml
new file mode 100644
index 0000000000..d5bc2facb7
--- /dev/null
+++ b/flyteidl/pyproject.toml
@@ -0,0 +1,78 @@
+[build-system]
+requires = ["setuptools", "setuptools_scm"]
+build-backend = "setuptools.build_meta"
+
+[project]
+name = "flyteidl"
+dynamic = ["version"]
+authors = [{ name = "Flyte Contributors", email = "admin@flyte.org" }]
+description = "IDL for Flyte Platform"
+license = { text = "Apache-2.0" }
+readme = { file = "README.md", content-type = "text/markdown" }
+requires-python = ">=3.8,<3.13"
+dependencies = [
+    'googleapis-common-protos',
+    'protoc_gen_swagger',
+    'protobuf>=4.21.1,<5.0.0'
+    # Packages in here should rarely be pinned. This is because these
+    # packages (at the specified version) are required for project
+    # consuming this library. By pinning to a specific version you are the
+    # number of projects that can consume this or forcing them to
+    # upgrade/downgrade any dependencies pinned here in their project.
+    #
+    # Generally packages listed here are pinned to a major version range.
+    #
+    # e.g.
+    # Python FooBar package for foobaring
+    # pyfoobar>=1.0, <2.0
+    #
+    # This will allow for any consuming projects to use this library as
+    # long as they have a version of pyfoobar equal to or greater than 1.x
+    # and less than 2.x installed.
+]
+classifiers = [
+    "Intended Audience :: Science/Research",
+    "Intended Audience :: Developers",
+    "License :: OSI Approved :: Apache Software License",
+    "Programming Language :: Python :: 3.8",
+    "Programming Language :: Python :: 3.9",
+    "Programming Language :: Python :: 3.10",
+    "Programming Language :: Python :: 3.11",
+    "Programming Language :: Python :: 3.12",
+    "Topic :: Scientific/Engineering",
+    "Topic :: Scientific/Engineering :: Artificial Intelligence",
+    "Topic :: Software Development",
+    "Topic :: Software Development :: Libraries",
+    "Topic :: Software Development :: Libraries :: Python Modules"
+]
+
+[project.urls]
+Homepage = "https://github.com/flyteorg/flyte/tree/master/flyteidl"
+
+[tool.setuptools_scm]
+root = "../"
+tag_regex = '^(?:[\w-]+/)?(?P<version>[vV]?\d+(?:\.\d+){0,2}[^\+]*)(?:\+.*)?$'
+
+# https://github.com/pypa/setuptools/issues/3136 describes an extension to
+# setuptools that would involve a simpler way to specify this, but while
+# that does not happen we have to package the pyi files manually like so:
+[tool.setuptools.package-data]
+flyteidl = ["*.pyi", "**/*pyi"]
+
+[tool.setuptools.packages.find]
+include = ["gen/pb_python/*"]
+exclude = [
+    "_templates",
+    "tmp",
+    "boilerplate",
+    "clients",
+    "docs",
+    "jsonschema",
+    "protos",
+    "scripts",
+    "gen/pb-cpp",
+    "gen/pb-go",
+    "gen/pb-java",
+    "gen/pb-js",
+    "gen/pb-rust",
+]
diff --git a/flyteidl/setup.py b/flyteidl/setup.py
index 2f439ad360..1030e43304 100644
--- a/flyteidl/setup.py
+++ b/flyteidl/setup.py
@@ -1,45 +1,3 @@
 from setuptools import setup, find_packages
 
-__version__ = "0.0.0+develop"
-
-setup(
-    name='flyteidl',
-    version=__version__,
-    description='IDL for Flyte Platform',
-    url='https://github.com/flyteorg/flyte/tree/master/flyteidl',
-    long_description=open("README.md", encoding="utf-8").read(),
-    long_description_content_type="text/markdown",
-    maintainer='FlyteOrg',
-    maintainer_email='admin@flyte.org',
-    packages=find_packages('gen/pb_python'),
-    package_dir={'': 'gen/pb_python'},
-    # https://github.com/pypa/setuptools/issues/3136 describes an extension to
-    # setuptools that would involve a simpler way to specify this, but while
-    # that does not happen we have to package the pyi files manually like so:
-    package_data={'flyteidl': ["*.pyi", "**/*.pyi"]},
-    dependency_links=[],
-    install_requires=[
-        'googleapis-common-protos',
-        'protoc_gen_swagger',
-        'protobuf>=4.21.1,<5.0.0',
-        # Packages in here should rarely be pinned. This is because these
-        # packages (at the specified version) are required for project
-        # consuming this library. By pinning to a specific version you are the
-        # number of projects that can consume this or forcing them to
-        # upgrade/downgrade any dependencies pinned here in their project.
-        #
-        # Generally packages listed here are pinned to a major version range.
-        #
-        # e.g.
-        # Python FooBar package for foobaring
-        # pyfoobar>=1.0, <2.0
-        #
-        # This will allow for any consuming projects to use this library as
-        # long as they have a version of pyfoobar equal to or greater than 1.x
-        # and less than 2.x installed.
-    ],
-    extras_require={
-        ':python_version=="2.7"': ['typing>=3.6'],  # allow typehinting PY2
-    },
-    license='Apache-2.0',
-)
+setup()