finished top and were promoted alongside Arbroath F.C.
Berwick Rangers as champions of the 2006–07 season were directly promoted to the 2007–08 Scottish Second Division.
They were replaced by Forfar Athletic who finished bottom of the 2006–07 Scottish Second Division.
A second promotion place was available via a play-off tournament between the ninth-placed team of the 2006–07 Scottish Second Division, Stranraer, and the sides ranked second, third and fourth in the 2006–07 Scottish Third Division, Arbroath, Queen's Park and East Fife respectively.
The play-off was won by Queen's Park who defeated East Fife in the final.