The 2012 AFC Challenge Cup was the fourth edition of the tournament, an international football competition for Asian Football Confederation (AFC) member nations that are mainly categorized as "emerging countries" in the defunct Vision Asia programme.

Therefore, 2010 champions North Korea, runners-up Turkmenistan, and third-placed Tajikistan had to navigate the qualification phase in order to return to the finals.

[2] North Korea successfully defended their title and qualified for the 2015 AFC Asian Cup.

[5] The committee decided to endorse Nepal as the hosts of the AFC Challenge Cup 2012 Finals.

[7] The draw for the final tournament was held on 1 December 2011 at the Soaltee Crown Plaza Hotel in Kathmandu, Nepal.