[4] Alloa Athletic secured the Third Division title on 7 April 2012, ending their one-year spell in the bottom tier of the Scottish Football League.
A second promotion place is available through the play-offs which will be contested by runners-up Queen's Park along with Stranraer, Elgin City, and Albion Rovers of the Second Division.
There is no relegation from this division but East Stirlingshire finished bottom for the sixth time in 10 years.
[5] A second promotion place was available via a play-off tournament between the ninth-placed team of the 2010–11 Scottish Second Division, Alloa Athletic, and the sides ranked second, third and fourth of the 2010–11 Scottish Third Division; Albion Rovers, Queen's Park and Annan Athletic respectively.
The same set of fixtures is repeated for the second half of the season, bringing each team's tally of games to 36.