diff --git a/.gitignore b/.gitignore
index 181bcd4..bf8175e 100644
--- a/.gitignore
+++ b/.gitignore
@@ -9,3 +9,4 @@ __pycache__
 
 *.swp
 *.py[co]
+poetry.lock
diff --git a/Makefile b/Makefile
index fe4f383..a0a8456 100644
--- a/Makefile
+++ b/Makefile
@@ -1,16 +1,12 @@
 PYTHON=python3
-SETUP=$(PYTHON) setup.py
+POETRY=poetry
 
 
 build:
-	$(SETUP) build
+	$(POETRY) build
 
 install:
-	$(SETUP) install
-
-dist: clean
-	$(SETUP) sdist
-	$(SETUP) bdist_wheel
+	$(POETRY) install
 
 clean: clean-build clean-pyc clean-test ## remove all build, test, coverage and Python artifacts
 
@@ -42,7 +38,7 @@ style_check:
 
 style:
 	black shamir_mnemonic/ *.py
-	isort -y --recursive shamir_mnemonic/ *.py
+	isort shamir_mnemonic/ *.py
 
 
-.PHONY: dist clean clean-build clean-pyc clean-test test style_check style
+.PHONY: clean clean-build clean-pyc clean-test test style_check style
diff --git a/README.rst b/README.rst
index 90720be..58aafce 100644
--- a/README.rst
+++ b/README.rst
@@ -43,9 +43,16 @@ With pip from GitHub:
 
 From local checkout for development:
 
+Install the [Poetry](https://python-poetry.org/) tool, checkout
+`python-shamir-mnemonic` from git, and enter the poetry shell:
+
 .. code-block:: console
 
-    $ python3 setup.py develop
+    $ pip3 install poetry
+    $ git clone https://github.com/trezor/python-shamir-mnemonic
+    $ cd python-shamir-mnemonic
+    $ poetry install
+    $ poetry shell
 
 CLI usage
 ---------
diff --git a/pyproject.toml b/pyproject.toml
new file mode 100644
index 0000000..d0de57b
--- /dev/null
+++ b/pyproject.toml
@@ -0,0 +1,25 @@
+[tool.poetry]
+name = "shamir-mnemonic"
+version = "0.2.3"
+description = "SLIP-39 Shamir Mnemonics"
+authors = ["Trezor <info@trezor.io>"]
+license = "MIT"
+readme = [
+    "README.rst",
+    "CHANGELOG.rst",
+]
+
+[tool.poetry.dependencies]
+python = ">=3.8.1"
+click = ">=7,<9"
+
+[tool.poetry.group.dev.dependencies]
+bip32utils = "^0.3.post4"
+pytest = "^6.1.0"
+black = ">=24.2"
+flake8 = "*"
+isort = "^5"
+
+[build-system]
+requires = ["poetry-core"]
+build-backend = "poetry.core.masonry.api"
diff --git a/setup.py b/setup.py
deleted file mode 100644
index ff39d82..0000000
--- a/setup.py
+++ /dev/null
@@ -1,53 +0,0 @@
-from pathlib import Path
-
-from setuptools import setup
-
-# fmt: off
-REQUIREMENTS = [
-    "attrs",
-    "click>=7,<9",
-    "colorama",
-]
-EXTRA_REQUIREMENTS = {
-    "dev": [
-        "black",
-        "flake8",
-        "isort"
-    ],
-    "tests": [
-        "pytest"
-    ]
-}
-# fmt: on
-
-CWD = Path(__file__).resolve().parent
-
-
-setup(
-    name="shamir-mnemonic",
-    version="0.2.2",
-    description="SLIP-39 Shamir Mnemonics",
-    long_description="\n".join(
-        (
-            (CWD / "README.rst").read_text(),
-            (CWD / "CHANGELOG.rst").read_text(),
-        )
-    ),
-    url="https://github.com/trezor/python-shamir-mnemonic",
-    author="Satoshi Labs",
-    author_email="info@satoshilabs.com",
-    packages=["shamir_mnemonic"],
-    python_requires=">=3.6",
-    install_requires=REQUIREMENTS,
-    extras_require=EXTRA_REQUIREMENTS,
-    package_data={"shamir_mnemonic": ["wordlist.txt"]},
-    entry_points={"console_scripts": ["shamir=shamir_mnemonic.cli:cli"]},
-    classifiers=[
-        "License :: OSI Approved :: MIT License",
-        "Operating System :: POSIX :: Linux",
-        "Operating System :: Microsoft :: Windows",
-        "Operating System :: MacOS :: MacOS X",
-        "Programming Language :: Python :: 3.6",
-        "Programming Language :: Python :: 3 :: Only",
-    ],
-)
diff --git a/shamir_mnemonic/constants.py b/shamir_mnemonic/constants.py
index 7f4da44..7600844 100644
--- a/shamir_mnemonic/constants.py
+++ b/shamir_mnemonic/constants.py
@@ -3,7 +3,7 @@
 RADIX_BITS = 10
 """The length of the radix in bits."""
 
-RADIX = 2 ** RADIX_BITS
+RADIX = 2**RADIX_BITS
 """The number of words in the wordlist."""
 
 ID_LENGTH_BITS = 15