The 2007–08 Vyshcha Liha season was the seventeenth since its establishment. This season of the championship was sponsored by Biola which became the title sponsor replacing Soyuz-Viktan. The competition began on 17 July 2007 and ended on 18 May 2008. 16 teams participated in the competition, 14 of which contested in the 2006–07 season, and two of which (Zakarpattia Uzhhorod and Naftovyk-Ukrnafta Okhtyrka) were promoted from the Ukrainian First League (the league immediately below the Ukrainian Premier League). Dynamo Kyiv was the defending champions. Also, it was the last season of the top tier being part of the Professional Football League of Ukraine before separating into the Ukrainian Premier League and rebranding from Vyshcha Liha (Higher League).
The winner of the competition became Shakhtar Donetsk with 74 points, followed by Dynamo Kyiv with 71 points. Metalist, which placed right behind Shakhtar and Dynamo, had its awards stripped for match fixing.[a] The top goalscorer of the season was Marko Dević from Metalist Kharkiv with 19 goals, 6 of which were penalties. The spot for the second highest goalscorer with 17 goals was a three-way tie between Oleksandr Hladky from Shakhtar Donetsk, Yevhen Seleznyov from Arsenal Kyiv (on loan from Shakhtar), and Oleksandr Kosyrin from Metalurh Donetsk.