Sodium-glucose cotransporter 2 (SGLT2) inhibitors are widely used for the treatment of type 2 diabetes (T2D), heart failure, and chronic kidney disease. Recent evidence suggests that SGLT2 inhibitor therapy may lead to erythrocytosis, characterized by elevated hemoglobin (Hb) levels. However, the relationship between SGLT2 inhibitor-induced erythrocytosis and thrombosis risk remains unclear. In this study, we investigated whether SGLT2 inhibitor use increases arteriovenous thrombotic events in subjects with T2D. We conducted a multicenter retrospective cohort study using the OMOP CDM (Observational Medical Outcomes Partnership Common Data Model) databases of 13 medical institutions in South Korea. People aged ≥18 years with T2D who newly initiated SGLT2 inhibitors were included. The index date was defined as the date of the first SGLT2 inhibitor prescription, and subjects with a Hb > 16.5 g/dL within 180 days before the index date were excluded. Subjects were classified into an erythrocytosis group (Hb > 16.5 g/dL at least once during follow-up) and a non-erythrocytosis group (never exceeding this threshold). Among 107,088 SGLT2 inhibitor users across 13 institutions, erythrocytosis occurred in 10,900 (10.2%) subjects. After 1:1 propensity score matching on age and sex, a final cohort of 17,560 subjects (8,780 pairs) was analyzed. A total of 409 arteriovenous thrombotic events occurred during follow-up (240 in the erythrocytosis group and 169 in the non-erythrocytosis group), with no significant between-group difference in thrombosis risk (hazard ratio 0.82, 95% CI 0.56–1.20, p = 0.316). Between-institution heterogeneity was moderate (I² = 47.8%). In our cohort study, newly-developed erythrocytosis following SGLT2 inhibitor initiation was not associated with an increased risk of arteriovenous thrombosis in subjects with T2D. These findings provide clinicians with valuable information regarding the safety of SGLT2 inhibitor-induced erythrocytosis.