| Competition: | OB I |
| Season: | 1972 |
| Winners: | Orvosegyetem |
| Prevseason: | 1971 |
| Nextseason: | 1973 |
1972 Országos Bajnokság I (men's water polo) was the 66th water polo championship in Hungary. There were ten teams who played two-round match for the title.
| Team | M | W | D | L | G+ | G− | P | |
|---|---|---|---|---|---|---|---|---|
| 1. | OSC | 18 | 13 | 3 | 2 | 101 | 73 | 29 |
| 2. | Újpesti Dózsa | 18 | 12 | 2 | 4 | 93 | 80 | 26 |
| 3. | Ferencvárosi TC | 18 | 11 | 3 | 4 | 82 | 66 | 25 |
| 4. | Vasas SC | 18 | 7 | 7 | 4 | 75 | 67 | 21 |
| 5. | Vasas Izzó | 18 | 7 | 5 | 6 | 72 | 68 | 19 |
| 6. | Bp. Honvéd | 18 | 5 | 6 | 7 | 90 | 95 | 16 |
| 7. | Egri Dózsa | 18 | 5 | 5 | 8 | 86 | 94 | 15 |
| 8. | Bp. Spartacus | 18 | 3 | 6 | 9 | 58 | 77 | 12 |
| 9. | BVSC | 18 | 4 | 3 | 11 | 71 | 92 | 11 |
| 10. | Szolnoki Dózsa | 18 | 0 | 8 | 10 | 76 | 90 | 8 |
* M: Matches W: Win D: Drawn L: Lost G+: Goals earned G−: Goals got P: Point