diff --git a/.changes/unreleased/Under the Hood-20240221-145058.yaml b/.changes/unreleased/Under the Hood-20240221-145058.yaml
new file mode 100644
index 00000000000..a847bb68c53
--- /dev/null
+++ b/.changes/unreleased/Under the Hood-20240221-145058.yaml	
@@ -0,0 +1,6 @@
+kind: Under the Hood
+body: Make dbt-core compatible with Python 3.12
+time: 2024-02-21T14:50:58.983559Z
+custom:
+  Author: l1xnan aranke
+  Issue: "9007"
diff --git a/.github/workflows/main.yml b/.github/workflows/main.yml
index 1819146369a..db9fade87f6 100644
--- a/.github/workflows/main.yml
+++ b/.github/workflows/main.yml
@@ -74,7 +74,7 @@ jobs:
     strategy:
       fail-fast: false
       matrix:
-        python-version: ["3.8", "3.9", "3.10", "3.11"]
+        python-version: [ "3.8", "3.9", "3.10", "3.11", "3.12" ]
 
     env:
       TOXENV: "unit"
@@ -157,7 +157,7 @@ jobs:
     strategy:
       fail-fast: false
       matrix:
-        python-version: ["3.8", "3.9", "3.10", "3.11"]
+        python-version: [ "3.8", "3.9", "3.10", "3.11", "3.12" ]
         os: [ubuntu-20.04]
         split-group: ${{ fromJson(needs.integration-metadata.outputs.split-groups) }}
         include: ${{ fromJson(needs.integration-metadata.outputs.include) }}
diff --git a/core/dbt/task/test.py b/core/dbt/task/test.py
index 9548f633eb7..0754ca2277f 100644
--- a/core/dbt/task/test.py
+++ b/core/dbt/task/test.py
@@ -1,12 +1,10 @@
-from distutils.util import strtobool
-
 import agate
 import daff
 import io
 import json
 import re
 from dataclasses import dataclass
-from dbt.utils import _coerce_decimal
+from dbt.utils import _coerce_decimal, strtobool
 from dbt_common.events.format import pluralize
 from dbt_common.dataclass_schema import dbtClassMixin
 import threading
diff --git a/core/dbt/utils.py b/core/dbt/utils.py
index b4d510da8bb..8f7509a5dec 100644
--- a/core/dbt/utils.py
+++ b/core/dbt/utils.py
@@ -369,3 +369,21 @@ def args_to_dict(args):
 
         dict_args[key] = var_args[key]
     return dict_args
+
+
+# Taken from https://github.com/python/cpython/blob/3.11/Lib/distutils/util.py
+# This is a copy of the function from distutils.util, which was removed in Python 3.12.
+def strtobool(val: str) -> bool:
+    """Convert a string representation of truth to True or False.
+
+    True values are 'y', 'yes', 't', 'true', 'on', and '1'; false values
+    are 'n', 'no', 'f', 'false', 'off', and '0'.  Raises ValueError if
+    'val' is anything else.
+    """
+    val = val.lower()
+    if val in ("y", "yes", "t", "true", "on", "1"):
+        return True
+    elif val in ("n", "no", "f", "false", "off", "0"):
+        return False
+    else:
+        raise ValueError("invalid truth value %r" % (val,))
diff --git a/core/setup.py b/core/setup.py
index 3bd43cd31df..190b4501e41 100644
--- a/core/setup.py
+++ b/core/setup.py
@@ -95,6 +95,7 @@
         "Programming Language :: Python :: 3.9",
         "Programming Language :: Python :: 3.10",
         "Programming Language :: Python :: 3.11",
+        "Programming Language :: Python :: 3.12",
     ],
     python_requires=">=3.8",
 )
diff --git a/pytest.ini b/pytest.ini
index 0760d49a55a..800dd6b9ece 100644
--- a/pytest.ini
+++ b/pytest.ini
@@ -7,3 +7,4 @@ env_files =
 testpaths =
     tests/functional
     tests/unit
+pythonpath = core
diff --git a/tests/unit/test_plugin_manager.py b/tests/unit/test_plugin_manager.py
index 4cfe01d0dfc..bf25d810729 100644
--- a/tests/unit/test_plugin_manager.py
+++ b/tests/unit/test_plugin_manager.py
@@ -101,13 +101,25 @@ def test_get_nodes(self, tracking, get_nodes_plugins):
         nodes = pm.get_nodes()
 
         assert len(nodes.models) == 2
-        assert tracking.track_plugin_get_nodes.called_once_with(
-            {
-                "plugin_name": get_nodes_plugins[0].name,
-                "num_model_nodes": 2,
-                "num_model_packages": 1,
-            }
-        )
+
+        expected_calls = [
+            mock.call(
+                {
+                    "plugin_name": get_nodes_plugins[0].name,
+                    "num_model_nodes": 1,
+                    "num_model_packages": 1,
+                }
+            ),
+            mock.call(
+                {
+                    "plugin_name": get_nodes_plugins[1].name,
+                    "num_model_nodes": 1,
+                    "num_model_packages": 1,
+                }
+            ),
+        ]
+
+        tracking.track_plugin_get_nodes.assert_has_calls(expected_calls)
 
     def test_get_manifest_artifact(self, get_artifacts_plugins):
         pm = PluginManager(plugins=get_artifacts_plugins)