| Team: | Kentucky Colonels |
| League: | ABA |
| End Year: | 1972 |
| Divisionwin: | yes |
| Wins: | 68 |
| Losses: | 16 |
| Division: | Eastern |
| Division Place: | 1st |
| Coach: | Joe Mullaney |
| Arena: | Freedom Hall |
| Playoffs: | 1972 ABA Semifinals |
The 1971–72 Kentucky Colonels season was the fifth season of the Colonels in the American Basketball Association. The Colonels won 68 games on the season, en route to their first ever Division title, led by Issel and rookie Artis Gilmore, who like Issel signed a 10 years and $1.5 million contract. Gilmore won both ABA Rookie of the Year and ABA Most Valuable Player, averaging 23.8 points and 17.8 rebounds per game. However the Colonels were upset in 6 games by the New York Nets in the Division Semifinals. Notably, the Colonels played the Baltimore Bullets in the 2nd ever exhibition ABA vs. NBA game on September 22, 1971, in Louisville, Kentucky, winning 111–85.
| 68 | 16 | .810 | - | ||
| 45 | 39 | .536 | 23 | ||
| 44 | 40 | .524 | 24 | ||
| 36 | 48 | .429 | 32 | ||
| 35 | 49 | .417 | 33 | ||
| 25 | 59 | .298 | 43 |
Eastern Division Semifinals[1]
| Game | Date | Location | Score | Record | Attendance | |
| 1 | April 1 | Kentucky | 108–122 | 0–1 | 4,772 | |
| 2 | April 4 | Kentucky | 90–105 | 0–2 | 8,212 | |
| 3 | April 5 | New York | 105–99 | 1–2 | 14,056 | |
| 4 | April 7 | New York | 92–100 | 1–3 | 14,896 | |
| 5 | April 8 | Kentucky | 109–103 | 2–3 | 7,949 | |
| 6 | April 10 | New York | 96–101 | 2–4 | 11,533 |
1972 ABA All-Star Game selections (game played on January 29, 1972, in Louisville, Kentucky)
Mullaney was selected to coach the Eastern Conference.
Artis Gilmore