NGC 7537 is a spiral galaxy located in the equatorial constellation of Pisces, about 1.5° to the NNW of Gamma Piscium.

J. L. E. Dreyer described it as, "very faint, considerably small, round, brighter middle, southwestern of 2".

[8] This galaxy lies at a distance of approximately 127 Mly (39 Mpc) from the Milky Way,[3] and is a member of the Pegasus I cluster.

[4] This object forms a pair with the nearly edge-on barred spiral galaxy NGC 7541, and the two show signs of interaction.

[6] A Type II supernova[9] designated SN 2002gd was detected by multiple independent observers beginning October 5, 2002.