Denny Hulme won the South African Grand Prix 1972 at Kyalami on 4 March 1972, starting from P5 on the grid. Emerson Fittipaldi finished second for Team Lotus, with Peter Revson completing the podium for McLaren.
| Pos | Grid | Driver | Team | Laps | Time / Status | Pts | FL |
|---|---|---|---|---|---|---|---|
| 1 | 5 | Denny HulmeHUL | McLaren | 79 | 1:45:49.1 | 9 | |
| 2 | 3 | Emerson FittipaldiFIT | Team Lotus | 79 | +14.1 | 6 | |
| 3 | 12 | Peter RevsonREV | McLaren | 79 | +25.8 | 4 | |
| 4 | 6 | Mario AndrettiAND | Ferrari | 79 | +38.5 | 3 | |
| 5 | 9 | Ronnie PetersonPET | March | 79 | +49.0 | 2 | |
| 6 | 14 | Graham HillHIL | Brabham | 78 | +1 Lap | 1 | |
| 7 | 21 | Niki LaudaLAU | March | 78 | +1 Lap | 0 | |
| 8 | 7 | Jacky IckxICK | Ferrari | 78 | +1 Lap | 0 | |
| 9 | 8 | François CevertCEV | Tyrrell | 78 | +1 Lap | 0 | |
| 10 | 19 | David WalkerWAL | Team Lotus | 78 | +1 Lap | 0 | |
| 11 | 22 | Henri PescaroloPES | March | 78 | +1 Lap | 0 | |
| 12 | 2 | Clay RegazzoniREG | Ferrari | 77 | +2 Laps | 0 | |
| 13 | 25 | Rolf StommelenSTO | March | 77 | +2 Laps | 0 | |
| 14 | 23 | Helmut MarkoMAR | BRM | 76 | +3 Laps | 0 | |
| 15 | 13 | Chris AmonAMO | Matra | 76 | +3 Laps | 0 | |
| 16 | 26 | John LoveLOV | Surtees | 73 | Spun off | 0 | |
| 17 | 24 | Carlos PacePAC | March | 73 | +6 Laps | 0 | |
| N | 16 | Howden GanleyGAN | BRM | 70 | Not classified | 0 | |
| N | 20 | Andrea de AdamichDEA | Surtees | 69 | Not classified | 0 | |
| N | 18 | Peter GethinGET | BRM | 65 | Not classified | 0 | |
| R | 11 | Jean-Pierre BeltoiseBEL | BRM | 61 | Engine | 0 | |
| R | 1 | Jackie StewartSTE | Tyrrell | 45 | Gearbox | 0 | |
| R | 4 | Mike HailwoodHAI | Surtees | 28 | Suspension | 0 | |
| R | 15 | Carlos ReutemannREU | Brabham | 27 | Fuel system | 0 | |
| R | 10 | Tim SchenkenSCH | Surtees | 9 | Engine | 0 | |
| R | 17 | Dave CharltonCHA | Team Lotus | 2 | Fuel pump | 0 |