You can set the fontsize directly in the call to set_xticklabels and set_yticklabels (as noted in previous answers). This will only affect one Axes at a time.
ax.set_xticklabels(x_ticks, rotation=0, fontsize=8)
ax.set_yticklabels(y_ticks, rotation=0, fontsize=8)
Note this method should only be used if you are fixing the positions of the ticks first (e.g. using ax.set_xticks). If you are not changing the tick positions from the default ones, you can just change the font size of the tick labels without changing the text using ax.tick_params
ax.tick_params(axis='x', labelsize=8)
ax.tick_params(axis='y', labelsize=8)
or
ax.tick_params(axis='both', labelsize=8)
You can also set the ticklabel font size globally (i.e. for all figures/subplots in a script) using rcParams:
import matplotlib.pyplot as plt
plt.rc('xtick',labelsize=8)
plt.rc('ytick',labelsize=8)
Or, equivalently:
plt.rcParams['xtick.labelsize']=8
plt.rcParams['ytick.labelsize']=8
Finally, if this is a setting that you would like to be set for all your matplotlib plots, you could also set these two rcParams in your matplotlibrc file:
xtick.labelsize : 8 # fontsize of the x tick labels
ytick.labelsize : 8 # fontsize of the y tick labels