The 1972 Indiana gubernatorial election was held on November 7, 1972.
Although during the same election cycle Indiana voters approved a constitutional amendment allowing the governor to serve in office for eight out of 12 years, incumbent Republican Governor Edgar Whitcomb was term-limited due to having been elected under the prior version of the constitution.
Republican nominee, Speaker of the Indiana House of Representatives Otis Bowen defeated Democratic nominee former Governor (1961–1965) Matthew E. Welsh with 56.77% of the vote.
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