diff --git a/pyproject.toml b/pyproject.toml
new file mode 100644
index 00000000..b7e6ecad
--- /dev/null
+++ b/pyproject.toml
@@ -0,0 +1,72 @@
+# Update dependencies:
+#
+#  - python3 -m pip install --user --upgrade pip-tools build
+#  - git clean -fdx  # remove all untracked files!
+#  - (pip-compile --upgrade -o requirements.txt requirements.in)
+#
+# Prepare a release:
+#
+#  - git pull --rebase
+#  - Remove untracked files/dirs: git clean -fdx
+#  - maybe update version in pyperformance/__init__.py and doc/conf.py
+#  - set release date in doc/changelog.rst
+#  - git commit -a -m "prepare release x.y"
+#  - run tests: tox --parallel auto
+#  - git push
+#  - check the CI status:
+#    https://github.com/python/pyperformance/actions
+#
+# Release a new version:
+#
+#  - git tag VERSION
+#  - git push --tags
+#  - Remove untracked files/dirs: git clean -fdx
+#  - python -m build
+#  - twine upload dist/*
+#
+# After the release:
+#
+#  - set version to n+1: pyperformance/__init__.py and doc/conf.py
+#  - git commit -a -m "post-release"
+#  - git push
+
+[build-system]
+requires = ["setuptools >= 61"]
+build-backend = "setuptools.build_meta"
+
+[project]
+name = "pyperformance"
+dynamic = ["version"]
+license = {text = "MIT"}
+description = "Python benchmark suite"
+readme = "README.rst"
+urls = {Homepage = "https://github.com/python/pyperformance"}
+authors= [{name = "Collin Winter"}, {name= "Jeffrey Yasskin"}]
+classifiers = [
+    'Development Status :: 5 - Production/Stable',
+    'Intended Audience :: Developers',
+    'License :: OSI Approved :: MIT License',
+    'Natural Language :: English',
+    'Operating System :: OS Independent',
+    'Programming Language :: Python :: 3',
+    'Programming Language :: Python',
+]
+requires-python = ">=3.7"
+dependencies = ["pyperf", "toml", "packaging"]
+
+[project.optional-dependencies]
+dev = [
+    'tox',
+]
+
+[project.scripts]
+pyperformance = "pyperformance.cli:main"
+
+[tool.setuptools]
+include-package-data = true
+
+[tool.setuptools.packages]
+find = {}  # Scanning implicit namespaces is active by default
+
+[tool.setuptools.dynamic]
+version = {attr = "pyperformance.__version__"}
diff --git a/setup.py b/setup.py
deleted file mode 100644
index 6166d76c..00000000
--- a/setup.py
+++ /dev/null
@@ -1,85 +0,0 @@
-#!/usr/bin/env python3
-
-# FIXME:
-#
-# - REENABLE HG_STARTUP BENCHMARK.
-#
-# Update dependencies:
-#
-#  - python3 -m pip install --user --upgrade pip-tools
-#  - git clean -fdx  # remove all untracked files!
-#  - (pip-compile --upgrade -o requirements.txt requirements.in)
-#
-# Prepare a release:
-#
-#  - git pull --rebase
-#  - Remove untracked files/dirs: git clean -fdx
-#  - maybe update version in pyperformance/__init__.py and doc/conf.py
-#  - set release date in doc/changelog.rst
-#  - git commit -a -m "prepare release x.y"
-#  - run tests: tox --parallel auto
-#  - git push
-#  - check the CI status:
-#    https://github.com/python/pyperformance/actions
-#
-# Release a new version:
-#
-#  - git tag VERSION
-#  - git push --tags
-#  - Remove untracked files/dirs: git clean -fdx
-#  - python3 setup.py sdist bdist_wheel
-#  - twine upload dist/*
-#
-# After the release:
-#
-#  - set version to n+1: pyperformance/__init__.py and doc/conf.py
-#  - git commit -a -m "post-release"
-#  - git push
-
-# Import just to get the version
-import pyperformance
-
-VERSION = pyperformance.__version__
-
-DESCRIPTION = 'Python benchmark suite'
-CLASSIFIERS = [
-    'Development Status :: 5 - Production/Stable',
-    'Intended Audience :: Developers',
-    'License :: OSI Approved :: MIT License',
-    'Natural Language :: English',
-    'Operating System :: OS Independent',
-    'Programming Language :: Python :: 3',
-    'Programming Language :: Python',
-]
-
-
-# put most of the code inside main() to be able to import setup.py in
-# unit tests
-def main():
-    import os.path
-    from setuptools import setup, find_packages
-
-    with open('README.rst', encoding="utf8") as fp:
-        long_description = fp.read().strip()
-
-    options = {
-        'name': 'pyperformance',
-        'version': VERSION,
-        'author': 'Collin Winter and Jeffrey Yasskin',
-        'license': 'MIT license',
-        'description': DESCRIPTION,
-        'long_description': long_description,
-        'url': 'https://github.com/python/benchmarks',
-        'classifiers': CLASSIFIERS,
-        'packages': find_packages(),
-        'include_package_data': True,
-        'entry_points': {
-            'console_scripts': ['pyperformance=pyperformance.cli:main']
-        },
-        'install_requires': ["pyperf", "toml", "packaging"],
-    }
-    setup(**options)
-
-
-if __name__ == '__main__':
-    main()
diff --git a/tox.ini b/tox.ini
index 167839e6..a38f48b2 100644
--- a/tox.ini
+++ b/tox.ini
@@ -1,5 +1,6 @@
 [tox]
 envlist = py3, pypy3, doc, pep8
+isolated_build = True
 
 [testenv]
 commands = python runtests.py