2012 PBA Governors' Cup finals

The 2012 Philippine Basketball Association (PBA) Governors' Cup finals was the best-of-7 championship series of the 2012 PBA Governors' Cup, and the conclusion of the conference's playoffs. The Rain or Shine Elasto Painters and the B-Meg Llamados competed for the 106th championship contested by the league.

Rain or Shine won the series, four games to three, capturing their first championship in their franchise history. The Elasto Painters also prevented a possible series comeback from B-Meg after the Llamados won games 5 and 6 coming from a 1–3 deficit, in which last time to do so was during the 1991 First Conference finals when Ginebra San Miguel won against Shell Rimula X from a 1–3 deficit.

Broadcast notes

 * Additional Game 7 crew:
 * Trophy presentation: Aaron Atayde
 * Dugout celebration interviewer: Erika Padilla