Elite SC unsuccessfully defended its second successive 2011 title.
East End United were relegated to the Cayman Islands First Division after finishing eighth place in last season's competition.
Taking their place in the competition were the champions of the First Division, Cayman Athletic SC.
Another spot in the league was available through a promotion/relegation playoff between the 7th-place finisher in the Premier League, Tigers FC, and the runners-up of the First Division, Academy SC.
Tigers won this playoff and remained in the competition.