The event was won by Pekka Vasala of Finland, the nation's first championship in the 1500 metres since back-to-back wins in 1924 and 1928.

Ryun "was no longer the dominant runner he had been in 1966–67," but was still the world record holder and had run the third-fastest mile ever between the Olympic trials and the Games.

[2] Sixteen nations made their 1500 metres debut in 1972: Algeria, Burma, Cameroon, East Germany, Ghana, Liberia, Madagascar, Malawi, Nigeria, Panama, Portugal, Saudi Arabia, Somalia, Sudan, Tanzania, and Uganda.

The United States made its 17th appearance, the only nation to have competed in the men's 1500 metres at each Games to that point.

Although the International Olympic Committee (IOC) acknowledged that a foul had occurred, U.S. appeals to have Ryun reinstated in the competition were denied.