The defending champion in the singles was Marcel Granollers , but he was eliminated in the quarter-finals. This year's final won the local hero David Ferrer against Oleksandr Dolhopolow in three sets with 6: 1, 3: 6 and 6: 4. This secured Ferrer the sixth tournament victory in the current year, which he drew level with Roger Federer , who in turn lost the final at the tournament in Basel. In doubles, the brothers Bob and Mike Bryan were the defending champions, but they did not compete this year. In this year's final Alexander Peya and Bruno Soares won against the local players David Marrero and Fernando Verdasco . It was the duo's third joint title, for Peya it was the fourth in the current season, for Soares it was already the fifth.
The field of participants in the individual competition consisted of 32 players, that of the doubles competition consisted of 16 pairs.
The qualification took place on October 20 and 21, 2012. Four qualifying places were played that entitle them to participate in the main draw of the tournament.
At the Valencia Open 500 2012 the following prize money and world ranking points were paid out or credited for reaching the respective round. Players who entered the main field from qualification received the specified qualification points in addition to those for reaching the respective round. Otherwise the amounts were not to be understood as cumulative. The amounts for the double competition were per player.