The team which finished first were automatically promoted to the First Division, the teams which finished second, third and fourth were entered into the First division play-offs with the team which finished second bottom of the First Division for a place in the 2008–09 First Division.
The team which finished bottom were automatically relegated to the Third Division and the team which finished second bottom were entered into the Second division play-offs with the teams which finished second, third and fourth in the Third Division for a place in the 2008–09 Second Division.
10 May:Arbroath are promoted to the Second Division after a 2–1 aggregate win over Stranraer in the Second Division play-off final.[4] Cowdenbeath, who were beaten by Arbroath in the semi-finals, are relegated to the Third Division.
Source: SPFL Archive Rules for classification: 1) points; 2) goal difference; 3) number of goals scored. (C) Champions; (P) Promoted; (R) Relegated Notes:
^The 2nd, 3rd and 4th placed teams will be entered into a play-off with the First Division's 9th placed team. The winning team were awarded a place in the 2008–09 First Division, Clyde won the play-off to stay in the division. However, with Gretna being relegated to the Third Division, Airdrie were promoted to Division One. Airdrie United won promotion to the First Division after Gretna were relegated to the Third Division.
^The 9th placed team were entered into a play-off with the Third Division's 2nd, 3rd and 4th placed teams. The winning team were awarded a place in the 2008–09 Second Division, Cowdenbeath were relegated and Arbroath were promoted. Due to Gretna's relegation, Stranraer were also promoted.
Results
Teams play each other four times in this league. In the first half of the season each team plays every other team twice (home and away) and then do the same in the second half of the season.
The ninth placed team in the Second Division played the fourth placed team in the Third Division and third placed team in the Second Division played the second placed team in the Second Division. The play-offs were played over two legs, the winning team in each semi-final advanced to the final.
The two semi-final winners played each other over two legs, the home team in the 1st Leg was determined by a draw conducted on 1 April 2008. the winning team was awarded a place in the 2008–09 Second Division.