The players auction for the 2012 Indian Premier League (fifth season) was held on 4 February 2012 in Bangalore. Each player in the auction pool had a base price under which franchise owners cannot bid. Players were allowed to set their base price between $20,000 to $400,000.

IPL authority has increased the number of players in each squad to 33 from the previous limit of 30 and also has increased the salary cap by $2 million. According to the new IPL rule each team can have 33 players and a maximum of 11 overseas players in their squad and they can spend up to $2 million at auction.

The players of Kochi Tuskers केरळ (KTK) were included in the players auction. The franchise of Kochi IPL team was terminated by BCCI in September, 2011.

The proceedings of the IPL 2012 Players Auction was telecasted live by SET Max, the official broadcaster of IPL.

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