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 | Vern Hamilton | Elfin 600B Ford | |
| 2 | Hume Weir[5] | 2 April | Ivan Tighe | Elfin 600B Ford | |
| 3 | Oran Park[6] | 25 June | Jack Bono | Elfin 600B Ford | |
| 4 | Amaroo Park[7] | 23 July | Larry Perkins | Elfin 600B/E Ford | |
| 5 | Surfers Paradise[8] | 27 August | Larry Perkins | Elfin 600B/E Ford | |
| 6 | Symmons Plains[9] | 24 September | Larry Perkins | Elfin 600B/E Ford | |
| 7[10] | Adelaide International Raceway | 8 October | Larry Perkins |
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 | Cal[12] | Hum | Ora | Ama | Sur | Sym | Ade | Total | |
| 1 | Larry Perkins | Elfin 600B/E Ford[13] | Provincial Motors | - | - | - | 9 | 9 | 9 | 9 | 36 | |
| 2 | Vern Hamilton | Elfin 600B Ford[14] | Vern Hamilton | 9 | - | 3 | - | 6 | - | - | 18 | |
| 3 | Jack Bono | Elfin 600B Ford | Graham Collier | - | - | 9 | 6 | - | - | - | 15 | |
| 4 | Ivan Tighe | Elfin 600B Ford | Ivan Tighe | - | 9 | - | 2 | - | 4 | - | 15 | |
| 5 | Ken Hastings | McLaren M4A Ford | Ken Hastings | 3 | 4 | 4 | - | - | 3 | - | 14[15] | |
| 6 | Allan Grice | Mildren Waggott & Mildren England | Max Stewart Motors & Alan Grice | - | - | 2 | 4 | 4 | - | - | 10 | |
| 7 | Don Uebergang | Elfin 600B | Don Uebergang | 6 | 2 | - | - | - | - | - | 8 | |
| 8 | Ian Fergusson | Bowin P3a Ford | Ian Fergusson | - | - | 6 | 1 | - | - | - | 7 | |
| 9 | Clive Millis | Elfin 600B | Clive Millis Motors | - | 6 | - | - | - | - | - | 6 | |
| Tony Stewart | Dolphin England | AE Stewart | - | - | - | - | - | 6 | - | 6 | ||
| 11 | Peter Larner | Rennmax BN2 | Roberts Auto Spares | 4 | - | - | - | - | - | - | 4 | |
| 12 | Peter Macrow | Cheetah | Peter Macrow | - | 3 | - | - | - | - | - | 3 | |
| Chris Milton | Elfin 600B | Shell Racing – Volkwreck | - | - | - | 3 | - | - | - | 3 | ||
| 14 | Garry Campbell | Elfin 600B | Provincial Motors | 2 | - | - | - | - | - | - | 2 | |
| 15 | Bob Punch | Elfin Mono | Bob Punch | 1 | - | - | - | - | - | - | 1 | |
| Michael Hall | Elfin 600B | Michael Hall | - | 1 | - | - | - | - | - | 1 | ||
| Chris Farrell | Brabham BT6 Ford | BP GordonService Station | - | - | 1 | - | - | - | - | 1 |