The 1972–73 Football League season was Birmingham City Football Club's 70th in the Football League and their 39th in the First Division, to which they were promoted as Second Division runners-up in 1971–72. After spending much of the season in the lower reaches of the table, eight wins and a draw from the last ten matches brought them up to tenth position in the 22-team division. They entered the 1972–73 FA Cup at the third round proper and lost in that round to Swindon Town, and entered the League Cup in the second round, eliminated in the fourth by Blackpool.
Twenty-seven players made at least one appearance in nationally organised first-team competition, and there were fourteen different goalscorers. Centre-forward Bob Latchford played in all but one of the 48 first-team matches over the season, and finished as leading goalscorer with 20 goals, of which 19 came in league competition. The home attendance in First Division matches never fell below 30,000.