The Football League Trophy 2007–08, known as the Johnstone's Paint Trophy 2007–08 for sponsorship reasons, was the 24th staging of the Football League Trophy, a knockout competition for English football clubs in Leagues One and Two. The winners were MK Dons and the runners-up were Grimsby Town F.C., both from League Two. The competition began on 18 September 2007 and ended with the final on 30 March 2008. The final took place at Wembley Stadium for the first time since 2000. Doncaster Rovers were the defending champions, but lost to Grimsby on penalties in the Third round.