The Toronto Raptors 2006–07 season is the twelfth National Basketball Association (NBA) season for the Toronto Raptors basketball franchise. Following a poor 2005–06 season, General Manager Bryan Colangelo greatly revamped the team roster during the pre-season but continued to build the team around All-Star Chris Bosh. Despite a sluggish start, the 2006–07 season transformed into a year for Toronto. The Raptors captured their first division title, finished third in the Eastern Conference, made the playoffs for the first time in five years, equalled their best ever regular season record, and secured home court advantage for the first time in franchise history. However, the Raptors met the New Jersey Nets in the first round of the playoffs and were defeated four games to two. At the end of the regular season, head coach Sam Mitchell and Colangelo were named NBA Coach of the Year and NBA Executive of the Year respectively.

Before the season, Toronto won the NBA Draft Lottery and were awarded the 1st overall pick in the 2006 NBA draft. To prepare for their draft choice, the Raptors traded Rafael Araújo for Kris Humphries and Robert Whaley, and traded Matt Bonner, Eric Williams and a second round pick for Rasho Nesterovič and cash considerations. The 1st overall pick was used to select Italian Andrea Bargnani, making him the first European drafted number one overall.Maurizio Gherardini was hired as the club's vice-president and assistant general manager, making him the first European elevated to an NBA executive job. Promising small forward Charlie Villanueva was traded for point guard T. J. Ford and cash considerations, while Chris Bosh was rewarded with a three-year extension.