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The Green and Gold returned to the playoffs in 1972, finishing second in the West with a record of 10-6. Quarterback Tom Wilkinson, passed for 2,475 yards and 17 touchdowns but the club would eventually lose in the Division Semifinal to the Saskatchewan Roughriders. George McGowan finished with 1,015 receiving yards and Roy Bell rushed for 690 yards to lead the team in the regular season.

1972 (24th season)
Record: 10-6 (2nd West)
Home: 7-1 | Away: 3-5
Playoffs: 0-1 Division Semifinal
Head coach: Ray Jauch (3rd season)
CFL All-Stars: Dave Gasser
West All-Stars: Dick Dupuis, Dave Gasser, John LaGrone, Charlie Turner, Tyrone Walls, Larry Watkins
Hall of Fame: 
Major award winners:

 

Date Opponent Result (record)
August 1 vs. BC Lions W 22-34 (1-0)
August 11 vs. Hamilton Tiger-Cats W 27-30 (2-0)
August 16 at Saskatchewan Roughriders W 31-29 (3-0)
August 25 vs. Calgary Stampeders W 7-29 (4-0)
August 30 at Winnipeg Blue Bombers L 16-49 (4-1)
September 4 at Calgary Stampeders W 31-19 (5-1)
September 10 vs. Calgary Stampeders W 20-27 (6-1)
September 17 at Saskatchewan Roughriders L 12-14 (6-2)
September 23 vs. Ottawa Rough Riders L 10-9 (6-3)
September 30 at Toronto Argonauts W 31-30 (7-3)
October 3 at Montreal Alouettes L 13-29 (7-4)
October 9 vs. Winnipeg Blue Bombers W 15-24 (8-4)
October 14 at BC Lions L 16-22 (8-5)
October 22 vs. Saskatchewan Roughriders W 23-25 (9-5)
October 29 at Winnipeg Blue Bombers L 24-38 (9-6)
November 5 vs. Calgary Stampeders W 14-28 (10-6)
November 12 vs. Saskatchewan Roughriders L 8-6 Division Semifinal