diff --git a/.github/workflows/dev.yml b/.github/workflows/dev.yml
index 8af5832f15948..aec8548502319 100644
--- a/.github/workflows/dev.yml
+++ b/.github/workflows/dev.yml
@@ -120,7 +120,7 @@ jobs:
         shell: bash
         run: |
           gem install test-unit
-          pip install "cython>=0.29.31" setuptools six pytest jira
+          pip install "cython>=0.29.31" setuptools six pytest jira setuptools-scm
       - name: Run Release Test
         env:
           ARROW_GITHUB_API_TOKEN: ${{ secrets.GITHUB_TOKEN }}
diff --git a/python/pyproject.toml b/python/pyproject.toml
index 1588e690a7247..602b4e6eb5330 100644
--- a/python/pyproject.toml
+++ b/python/pyproject.toml
@@ -24,7 +24,52 @@ requires = [
     # continue using oldest-support-numpy.
     "oldest-supported-numpy>=0.14; python_version<'3.9'",
     "numpy>=1.25; python_version>='3.9'",
-    "setuptools_scm",
-    "setuptools >= 40.1.0",
+    # configuring setuptools_scm in pyproject.toml requires
+    # versions released after 2022
+    "setuptools_scm[toml]>=8",
+    "setuptools>=64",
     "wheel"
 ]
+build-backend = "setuptools.build_meta"
+
+[project]
+name = "pyarrow"
+dynamic = ["version"]
+requires-python = ">=3.8"
+description = "Python library for Apache Arrow"
+readme = {file = "README.md", content-type = "text/markdown"}
+license = {text = "Apache Software License"}
+classifiers  = [
+    'License :: OSI Approved :: Apache Software License',
+    'Programming Language :: Python :: 3.8',
+    'Programming Language :: Python :: 3.9',
+    'Programming Language :: Python :: 3.10',
+    'Programming Language :: Python :: 3.11',
+    'Programming Langauge :: Python :: 3.12',
+]
+maintainers = [
+    {name = "Apache Arrow Developers", email = "dev@arrow.apache.org"}
+]
+
+[project.urls]
+Homepage = "https://arrow.apache.org/"
+Documentation = "https://arrow.apache.org/docs/python"
+Repository = "https://github.com/apache/arrow"
+Issues = "https://github.com/apache/arrow/issues"
+Changelog = "https://github.com/apache/arrow/blob/main/CHANGELOG.md"
+
+[tool.setuptools]
+zip-safe=false
+include-package-data=true
+
+[tool.setuptools.packages.find]
+where = ["."]
+
+[tool.setuptools.package-data]
+pyarrow = ["*.pxd", "*.pyx", "includes/*.pxd"]
+
+[tool.setuptools_scm]
+root = '..'
+version_file = 'pyarrow/_generated_version.py'
+version_scheme = 'guess-next-dev'
+relative_to = "pyproject.toml"
diff --git a/python/setup.py b/python/setup.py
index ce6996dc1d439..54c2af99968e0 100755
--- a/python/setup.py
+++ b/python/setup.py
@@ -480,11 +480,7 @@ def has_ext_modules(foo):
 
 
 setup(
-    name='pyarrow',
     packages=packages,
-    zip_safe=False,
-    package_data={'pyarrow': ['*.pxd', '*.pyx', 'includes/*.pxd']},
-    include_package_data=True,
     exclude_package_data=exclude_package_data,
     distclass=BinaryDistribution,
     # Dummy extension to trigger build_ext
@@ -493,34 +489,8 @@ def has_ext_modules(foo):
         'build_ext': build_ext
     },
     use_scm_version={
-        'root': os.path.dirname(setup_dir),
         'parse': parse_git,
-        'write_to': os.path.join(scm_version_write_to_prefix,
-                                 'pyarrow/_generated_version.py'),
-        'version_scheme': guess_next_dev_version
     },
-    setup_requires=['setuptools_scm', 'cython >= 0.29.31'] + setup_requires,
-    install_requires=install_requires,
     tests_require=['pytest', 'pandas', 'hypothesis'],
-    python_requires='>=3.8',
-    description='Python library for Apache Arrow',
-    long_description=long_description,
-    long_description_content_type='text/markdown',
-    classifiers=[
-        'License :: OSI Approved :: Apache Software License',
-        'Programming Language :: Python :: 3.8',
-        'Programming Language :: Python :: 3.9',
-        'Programming Language :: Python :: 3.10',
-        'Programming Language :: Python :: 3.11',
-        'Programming Language :: Python :: 3.12',
-    ],
-    license='Apache License, Version 2.0',
-    maintainer='Apache Arrow Developers',
-    maintainer_email='dev@arrow.apache.org',
     test_suite='pyarrow.tests',
-    url='https://arrow.apache.org/',
-    project_urls={
-        'Documentation': 'https://arrow.apache.org/docs/python',
-        'Source': 'https://github.com/apache/arrow',
-    },
 )