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Year 1407 (MCDVII) was a common year starting on Saturday (link will display the full calendar) of the Julian calendar.
- April 10 – After several invitations by the Yongle Emperor of China since 1403, the fifth Karmapa of the Karma Kagyu sect of Tibetan Buddhism, the lama Deshin Shekpa, finally visits the Ming Dynasty capital, then at Nanjing. In his twenty-two-day visit, he thrills the Ming court with alleged miracles that are recorded in a gigantic scroll, translated into five different languages. In a show of mystical prowess, Deshin Shekpa adds legitimacy to a questionable succession to the throne by Yongle, who had killed his nephew the Jianwen Emperor in the culmination of a civil war. For his services to the Ming court, including his handling of the ceremonial rites of Yongle's deceased parents, Deshin Shekpa is awarded the title Great Treasure Prince of Dharma (大寶法王).
- June 16 – Ming–Hồ War: The Ming Dynasty of China under the Yongle Emperor conquers Vietnam, capturing Hồ Quý Ly and his sons, ending the Vietnamese Hồ Dynasty.
- November 20 – A solemn truce between John the Fearless, Duke of Burgundy and Louis I, Duke of Orléans is agreed under the auspicies of John, Duke of Berry.
- November 23 – The Duke of Orleans is assassinated; war breaks out again between the Burgundians and his followers.