The Dutch Eerste Divisie in the 1972–73 season was contested by 20 teams, one less than in the previous year. This was due to the merger of Blauw-Wit Amsterdam with eredivisie-club DWS to form FC Amsterdam. Roda JC won the championship.
It was the first season in which a promotion competition was held. In this promotion competition, four period winners (the best teams during each of the four quarters of the regular competition) played for promotion to the eredivisie.
Relegated from the 1971–72 Eredivisie
DFC changed their name to FC Dordrecht for this season.
In the promotion competition, four period winners (the best teams during each of the four quarters of the regular competition) played for promotion to the Eredivisie.