The season was seen as the end of the "Seven Seconds or Less" era, after four-time All-Star Shawn Marion was traded midseason to the Miami Heat for big man Shaquille O'Neal.
On June 6, former TNT analyst and NBA three-point specialist Steve Kerr was appointed Suns' General Manager and President of Basketball Operations.
On June 28, 2007, Spanish guard Rudy Fernández was taken 24th overall in the 2007 NBA Draft by the Suns, who subsequently traded the rights to the pick to the Portland Trail Blazers for cash.
The Suns won at least 50 games for the fourth straight season and faced the defending champion San Antonio Spurs in the playoffs for the third time in four years.
Even with the presence of Shaquille O'Neal who was traded to the team just before the All-Star break for Shawn Marion, the Suns were yet again eliminated, this time in five games.