Coach: Keith McKenzie
Captain: Barry Gill
Vice-Captain: Brian Walsh
Best & Fairest: Peter Fyffe
Gardiner Medal: John Warden 4th place
Leading Goalkicker: Brian Walsh 36 goals (6th in the competition), Peter Warburton 28 goals (17th in the competition), Gary Schiele 27 goals (19th in the competition), John Warden 25 goals (23rd in the competition)
Position: 3rd
Premier: Hawthorn
May 06
Carlton played Geelong at Princes Park
Carlton lost; 14.9.93 -14.25.109
Goals; Brian Walsh 8, Lynch 3, Peter Hall, Graeme Robertson, Robert Kirkman
Best; Brian Walsh, Peter Bacon, Peter Davey, Barry Gill, Robert Kirkman
Carlton seventh
Played 6, Won 2, Lost 4, Drawn 0, 91.2%, Points 8
Round 8: 20th May, 1972.
St Kilda 10.14.74
Carlton 10.7.67
Result: Lost by 7 Points.
Goalkickers:
Best:
Round 9: 27th May, 1972.
Carlton 20.11.131
Nth Melb. 9.3.57
Result: Won by 74 Points.
Goalkickers:
Best:
Round 22: 2nd September, 1972.
Carlton 19.14.128
Footscray 14.10.94
Result: Won by 34 Points.
Goalkickers: John Warden 9, Brian Walsh 4, Gary Schiele 3, Neil Chandler 2, Bryan Quirk 1.
Best: John Warden, Rod Austin, Tony Smith, Peter Fyffe, Brian Walsh, Tony Zoanetti.
1972 Reserves End of Home & Away Season Ladder
| Pos | Team | Wins | Losses | Draws | Points | For | Against | % |
| 1 | Hawthorn | 19 | 2 | 1 | 78 | 2638 | 1712 | 154.1 |
| 2 | Richmond | 17 | 5 | 0 | 68 | 2497 | 1809 | 138.3 |
| 3 | Melbourne | 17 | 5 | 0 | 68 | 2152 | 1600 | 134.5 |
| 4 | Essendon | 15 | 6 | 1 | 62 | 2112 | 1685 | 125.3 |
| 5 | Carlton | 14 | 8 | 0 | 56 | 1828 | 1714 | 106.7 |
| 6 | Geelong | 13 | 9 | 0 | 52 | 2439 | 1978 | 123.3 |
| 7 | Footscray | 13 | 9 | 0 | 52 | 2001 | 1942 | 103.0 |
| 8 | Sth Melbourne | 8 | 14 | 0 | 32 | 1980 | 2145 | 92.3 |
| 9 | Collingwood | 7 | 15 | 0 | 28 | 1801 | 2103 | 85.6 |
| 10 | St Kilda | 5 | 17 | 0 | 20 | 1451 | 2058 | 70.5 |
| 11 | Nth Melbourne | 2 | 20 | 0 | 8 | 1541 | 2760 | 55.8 |
| 12 | Fitzroy | 1 | 21 | 0 | 4 | 1577 | 2511 | 62.8 |
1972 Reserves Finals Series
Elimination Final - 9th September, 1972.
Carlton 15.10.100
Essendon 14.9.93
Result: Won by 7 Points.
Goalkickers: John Warden 4, Brian Walsh 3, Gary Schiele 3, Eric Pascoe 2, Paul O'Brien 1, Peter Hall 1, Vin Catoggio 1.
Best: John Warden, Brian Walsh, Neil Chandler, Peter Hall, Rod Austin, Vin Catoggio, Eric Pascoe.
Blues' great finish
Carlton Reserves staged a whirlwind finish to win their elimination final by seven points against Essendon. Carlton hit the front at the 27-minute mark of the last quarter and then added another goal right on the siren to clinch the win. They won 15.10.(100) to 14.9.(93). Essendon was unable to match this finishing onslaught although they had led throughout the game. Burly Essendon ruckman Gary Grainger dominated the ruck duels and used handball very constructively to continually put his side into attack. He combined well with rover Don Goss, whose deadly accurate kicking for goal enabled him to notch five for the match. Red-headed John Warden was brilliant at centre half-forward for Carlton and his strong marking was a key factor in Carlton's victory. - The Australian.
Qualifying Final - Melbourne 11.15.81 d Richmond 10.8.68
Carlton 12.8.80
Richmond 9.15.69
Result: Won by 11 points.
Goalkickers: John Warden 3, Paul O'Brien 2, Gary Schiele 2, Peter Bacon 2, Vin Catoggio 2, Neil Chandler 1.
Best: Brian Walsh, John Warden, Garry Crane, Vin Catoggio, Peter Bacon, Eric Pascoe, Barry Gill.
2nd Semi Final - Melbourne 14.10.94 d Hawthorn 8.14.62
Carlton 9.14.68
Hawthorn 15.11.101
Result: Lost by 33 Points.
Goalkickers: John Warden 4, Eric Pascoe 1, Brian Walsh 1, Neil Chandler 1, Peter Hall 1, Vin Catoggio 1.
Best: Garry Crane, John Warden, Barry Gill, Rod Austin, Greg Lethborg, Peter Warburton, Eric Pascoe, Brian Walsh, Peter Bacon.