On 2 April 2007, Ronson released a cover of The Smiths' track "Stop Me If You Think You've Heard This One Before" under the title "Stop Me", featuring singer Daniel Merriweather. It reached number 2 in the UK singles charts, giving Ronson his highest-peaking single until 2014's "Uptown Funk". Ronson remixed the Bob Dylan song "Most Likely You Go Your Way And I'll Go Mine" in promotion for the three disc Bob Dylan set titled Dylan released October 2007. Ronson has also produced Candie Payne's "One More Chance (Ronson mix)" in 2007.
The album Version was well received by critics particularly in the UK and US. In May 2007 it was awarded the title Album of the Month by the British dance music magazine, Mixmag. On 23 June, Ronson made the cover of the Guardian newspaper's Guide magazine, alongside singer Lily Allen.
In June 2007, Ronson signed DC hip hop artist Wale to Allido Records. In late 2007, he focused on production, working with Daniel Merriweather on his debut album, and recording again with Amy Winehouse and Robbie Williams.
On 24 October 2007, Ronson performed a one-off set at The Roundhouse in Camden, London as part of the BBC Electric Proms 2007. The performance featured the BBC Concert Orchestra and included special guests Terry Hall, Sean Lennon, Tim Burgess, Alex Greenwald, Ricky Wilson, Charlie Waller, Adele and Kyle Falconer.
In December 2007, Ronson received his first Grammy Award nomination, for 'Producer of the Year, Non Classical'. Ronson's work with Amy Winehouse also received substantial accolades, gaining 6 nominations. Winehouse's "Back to Black" album, mostly produced by Ronson, was nominated for 'Album of the Year' and 'Best Pop Vocal Album'. Her song "Rehab" received nods for 'Best Female Pop Vocal Performance', 'Song of the Year' and 'Record of the Year'. Ronson would go on to win three Grammys: 'Producer of the Year' as well as 'Best Pop Vocal Album' and 'Record of the Year' (the latter two of which he shared with Amy Winehouse) in early February 2008.