The half-life of tsups{37}K has been measured to be $1.23651(94)~mathrm{s}$, a value nearly an order of magnitude more precise than the best previously reported. The $beta^+$ decay of tsups{37}K occurs mainly via a superallowed branch to the ground-state of its $T=1/2$ mirror, tsups{37}Ar. This transition has been used recently, together with similar transitions from four other nuclei, as an alternative test of CVC and method for determining $V_{ud}$, but the precision of its $ft$ value was limited by the relatively large half-life uncertainty. Our result corrects that situation. Another motivation for improving the $ft$ value was to determine the standard-model prediction for the $beta$-decay correlation parameters, which will be compared to those currently being measured by the trinat{} collaboration at triumf. The new $ft$ value, $4605(8)~mathrm{s}$, is now limited in precision by the $97.99(14)%$ ground-state branching ratio.