The notion of d-critical loci was introduced by Joyce in order to give classical shadows of (−1)-shifted symplectic derived schemes. In this paper, we discuss birational geometry for d-critical loci, by introducing notions such as "d-critical flips" and "d-critical flops". They are not birational maps of the underlying spaces, but rather should be understood as virtual birational maps. We show that several wall-crossing phenomena of moduli spaces of stable objects on Calabi-Yau 3-folds are

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... ibed in terms of d-critical birational geometry. Among them, we show that wall-crossing diagrams of Pandharipande-Thomas (PT) stable pair moduli spaces, which are relevant in showing the rationality of PT generating series, form a d-critical minimal model program.