| Year: | 2012 |
| Conference: | Governors' Cup |
| Champion Games: | 4 |
| Runnerup Games: | 3 |
| Date: | July 22 – August 5, 2012 |
| Mvp: | Jeffrei Chan |
| Referees 1: | N. Quilinguen, N. Guevarra, R. Maurillo |
| Referees 2: | N. Quilinguen, E. Aquino, S. Pineda |
| Referees 3: | S. Pineda, E. Aquino, R. Yante |
| Referees 4: | N. Quilinguen, S. Pineda, R. Yante |
| Referees 5: | R. Maurillo, E. Aquino, J. Marabe |
| Referees 6: | S. Pineda, J. Marabe, R. Yante |
| Referees 7: | N. Quilinguen, J. Mariano, R. Yante |
| Next Conf: | 2012–13 Philippine |
The 2012 Philippine Basketball Association (PBA) Governors' Cup finals was the best-of-7 championship series of the 2012 PBA Governors' Cup, and the conclusion of the conference's playoffs. The Rain or Shine Elasto Painters and the B-Meg Llamados competed for the 106th championship contested by the league.
Rain or Shine won the series, four games to three, capturing their first championship in their franchise history. The Elasto Painters also prevented a possible series comeback from B-Meg after the Llamados won games 5 and 6 coming from a 1–3 deficit, in which last time to do so was during the 1991 First Conference finals when Ginebra San Miguel won against Shell Rimula X from a 1–3 deficit.
See main article: 2012 PBA Governors' Cup.
| Rain or Shine | B-Meg | ||||
|---|---|---|---|---|---|
| width=40% | Finished 8–1 (0.889) | width=20% colspan=2 | Elimination round | width=40% | Finished 6–3 (0.667) |
| Finished 10–4 (0.692) | Semifinals | Finished 9–5 (0.625)—Tied for 2nd* | |||
| Bye | playoff | Def. Barangay Ginebra, 74 - 72 | |||
| align=center width=30% | Team | width=8% | Game 1 | width=8% | Game 2 | width=8% | Game 3 | width=8% | Game 4 | width=8% | Game 5 | width=8% | Game 6 | width=8% | Game 7 | width=8% | Wins |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rain or Shine | 91 | 80 | 93 | 94 | 81 | 81 | 83 | 4 | |||||||||
| B-Meg | 80 | 85 | 84 | 89 | 91 | 97 | 76 | 3 | |||||||||
| Venue | Araneta | Araneta | Araneta | Araneta | Araneta | Araneta | Araneta |
| Game | Analyst(s) | AKTV Center Analysts | |||
|---|---|---|---|---|---|
| Game 1 | Rado Dimalibot, Jason Webb, Jojo Lastimosa, Gary David and Ryan Gregorio | ||||
| Game 2 | Mico Halili, Jojo Lastimosa, Ogie Menor and Franz Pumaren | ||||
| Game 3 | Mico Halili, Jason Webb, Aaron Atayde and Alex Crisano | ||||
| Game 4 | Mico Halili and Jason Webb | ||||
| Game 5 | Magoo Marjon and Jason Webb | ||||
| Game 6 | Mico Halili and Jojo Lastimosa | ||||
| Game 7 | Magoo Marjon, Jojo Lastimosa and Benjie Paras |