The 2012 SMU Mustangs football team represented Southern Methodist University in the 2012 NCAA Division I FBS football season as members of Conference USA in the West Division. June Jones led the Mustangs in his fifth season. The Mustangs played home games in University Park, Texas (an enclave of Dallas, Texas) at Gerald J. Ford Stadium. This was SMU's last year as a member of Conference USA as they will join the Big East Conference in 2013. They finished the season 7–6, 5–3 in C-USA play to finish in second place in the West Division. They were invited to the Hawaii Bowl where they defeated Fresno State.