The 2012 Phillip Island 300 was a motor race for the Australian sedan-based V8 Supercars. It was the fifth event of the 2012 International V8 Supercars Championship. It was held on the weekend of 18–20 May at the Phillip Island Grand Prix Circuit, in Phillip Island, Victoria.

The event was the second in a row in which Ford Performance Racing dominated with Mark Winterbottom winning the Saturday race. Winterbottom benefitted from a late safety car caused by a group of Cape Barren geese that bunched up the field and led to a collision between rivals Will Davison and Jamie Whincup who had been placing pressure on the leader. Neither driver was injured despite heavy damage to both cars. Craig Lowndes set new lap record on Saturday, breaking his own previous record that had stood for 13 years.

Will Davison recovered to win the Sunday race, his first at the circuit. The win moved him 10 points ahead of Whincup, who was only able to finish fifth in the Sunday race after crashing out of race one. Although the FPR duo won both races, Shane van Gisbergen was the best performed driver over the whole weekend.

Standings After 11 of 30 races. Pos No Name Team Points16 Will DavisonFord Performance Racing121621 Jamie WhincupTriple Eight Race Engineering120635 Mark WinterbottomFord Performance Racing11874888 Craig LowndesTriple Eight Race Engineering97759 Shane van GisbergenStone Brothers Racing953

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