The 1872 Caversham by-election was a by-election held on 28 August 1872 in the Caversham electorate in the Otago region of New Zealand during the 5th New Zealand Parliament.
The by-election was caused by the resignation of the incumbent Richard Cantrell, on 31 July 1872.
His opponent William Cutten had also stood in the 1870 Caversham by-election.
James Crowe Richmond was nominated but withdrew before the election; he received one vote.
Tolmie won at four of them, and Cutten had a majority at the Andersons Bay booth.