The 1972 Australian Formula 2 Championship was a CAMS sanctioned Australian motor racing title open to racing cars complying with Australian Formula 2.[1] It was the sixth Australian Formula 2 Championship.[2] The title was won by Larry Perkins driving an Elfin 600B/E Ford.
The championship was contested over a seven round series with one race per round.[3]
| Round | Circuit | Date | Winner | Car |
| 1 | Calder[4] | 16 January[4] | Vern Hamilton[4] | Elfin 600B Ford |
| 2 | Hume Weir[5] | 2 April[5] | Ivan Tighe[5] | Elfin 600B Ford |
| 3 | Oran Park[6] | 25 June[6] | Jack Bono[6] | Elfin 600B Ford |
| 4 | Amaroo Park[7] | 23 July[7] | Larry Perkins[7] | Elfin 600B/E Ford |
| 5 | Surfers Paradise[8] | 27 August[8] | Larry Perkins[8] | Elfin 600B/E Ford |
| 6 | Symmons Plains[9] | 24 September[9] | Larry Perkins[9] | Elfin 600B/E Ford |
| 7[10] | Adelaide International Raceway[10] | 8 October[10] | Larry Perkins[10] | Elfin 600B/E Ford |
Note: Rounds 3, 5, 6 & 7 were each run concurrently with rounds of the 1972 Australian Drivers' Championship.[3]
Championship points were awarded on a 9-6-4-3-2-1 basis to the first six placegetters.[1]
| Position | Driver[11] | Car | Entrant[3] | Cal[12] | Hum[12] | Ora[12] | Ama[12] | Sur[12] | Sym[12] | Ade[12] | Total[11] |
| 1 | Larry Perkins | Elfin 600B/E Ford[13] | Provincial Motors | - | - | - | 9 | 9 | 9 | 9 | 36[3] |
| 2 | Vern Hamilton | Elfin 600B Ford[14] | Vern Hamilton[4] | 9 | - | 3 | - | 6 | - | - | 18 |
| 3 | Jack Bono | Elfin 600B Ford[14] | Graham Collier[6] | - | - | 9 | 6 | - | - | - | 15 |
| 4 | Ivan Tighe | Elfin 600B Ford[13] | Ivan Tighe[5] | - | 9 | - | 2 | - | 4 | - | 15 |
| 5 | Ken Hastings | McLaren M4A Ford[14] | Ken Hastings[4] | 3 | 4 | 4 | - | - | 3 | - | 14[15] |
| 6 | Allan Grice | Mildren Waggott[6] & Mildren England[7] | Max Stewart Motors[6] & Alan Grice[7] | - | - | 2 | 4 | 4 | - | - | 10 |
| 7 | Don Uebergang | Elfin 600B[5] | Don Uebergang[4] | 6 | 2 | - | - | - | - | - | 8 |
| 8 | Ian Fergusson | Bowin P3a Ford[14] | Ian Fergusson[6] | - | - | 6 | 1 | - | - | - | 7 |
| 9 | Clive Millis | Elfin 600B[5] | Clive Millis Motors[5] | - | 6 | - | - | - | - | - | 6 |
| Tony Stewart | Dolphin[7] England[9] | AE Stewart[9] | - | - | - | - | - | 6 | - | 6 | |
| 11 | Peter Larner | Rennmax BN2[4] | Roberts Auto Spares[4] | 4 | - | - | - | - | - | - | 4 |
| 12 | Peter Macrow | Cheetah[5] | Peter Macrow[5] | - | 3 | - | - | - | - | - | 3 |
| Chris Milton | Elfin 600B[7] | Shell Racing – Volkwreck[7] | - | - | - | 3 | - | - | - | 3 | |
| 14 | Garry Campbell | Elfin 600B[4] | Provincial Motors[4] | 2 | - | - | - | - | - | - | 2 |
| 15 | Bob Punch | Elfin Mono[4] | Bob Punch[4] | 1 | - | - | - | - | - | - | 1 |
| Michael Hall | Elfin 600B[5] | Michael Hall[5] | - | 1 | - | - | - | - | - | 1 | |
| Chris Farrell | Brabham BT6 Ford[14] | BP GordonService Station[6] | - | - | 1 | - | - | - | - | 1 |
