Field
 |
 Dunaden (top) and Americain (below), both previous winners, were considered favourites to win the race, but placed 14th and 11th, respectively. |
The field for the 2012 Melbourne Cup consisted of 24 horses, [8] with the barrier draw conducted three days prior to the race, on the day of the running of the Victoria Derby. [9] Going into the race, favourites included Americain (winner of the 2010 race), Dunaden (winner of the 2011 race), and Red Cadeaux (second in the 2011 race), with Dunaden having won the 2012 Caulfield Cup, considered an important lead-up race. [10] With Glencadam Gold leading for most of the race, Green Moon pulled clear in the final straight, and eventually won in 3 minutes, 20.45 seconds, with Fiorente a length behind in second place, and Jakkalberry in third. [11] Ethiopia finished last, 63 lengths behind the winner, having injured a tendon during the race. [12] Green Moon's win was the first in the cup for both the horse's jockey, Brett Prebble, and trainer, Robert Hickmott, and the fourth win overall for the owner, Lloyd Williams, who thus became the equal most successful owner in the race's history. [13] The win was later described as "a major upset", with Green Moon having been priced up to $22.50 for a win and $7.40 for a place. [14] [15]
Radio host and comedian Hamish Blake confidently predicted on Hamish & Andy that Green Moon would win after having a dream about "green" and "horses". In 1996, Blake had dreamed about the number 5 and surmised Saintly would win (because of its number in the race), which it did. [16] [17]
- Except where otherwise listed, horses are trained in Australia:
| Saddle cloth | Horse | Trainer | Jockey | Weight | Barrier | Placing |
|---|---|---|---|---|---|---|
| 1 | Dunaden (IRE) | Mikel Delzangles (FR) | Craig Williams | 59 kg | 16 | 14th |
| 2 | Americain (USA) | Alain de Royer-Dupré (FR) | Damien Oliver | 58 kg | 12 | 11th |
| 3 | Jakkalberry (IRE) | Marco Botti (UK) | Colm O'Donoghue (IRE) | 55.5 kg | 19 | 3rd |
| 4 | Red Cadeaux (GB) | Ed Dunlop (UK) | Michael Rodd | 55.5 kg | 18 | 8th |
| 5 | Winchester (USA) | John Sadler | Jamie Mott | 55.5 kg | 22 | 17th |
| 6 | Voila Ici (IRE) | Peter Moody | Vlad Duric | 55 kg | 13 | 13th |
| 7 | Cavalryman (GB) | Saeed bin Suroor (UAE) | Frankie Dettori (ITA) | 54 kg | 6 | 12th |
| 8 | Mount Athos (IRE) | Luca Cumani (UK) | Ryan Moore (UK) | 54 kg | 8 | 5th |
| 9 | Sanagas (GER) | Bart Cummings | Nicholas Hall | 54 kg | 4 | 18th |
| 10 | Ethiopia | Pat Carey | Rhys McLeod | 54 kg | 14 | 24th |
| 11 | Fiorente (IRE) | Gai Waterhouse | James McDonald (NZ) | 53.5 kg | 2 | 2nd |
| 12 | Galileo's Choice (IRE) | Dermot Weld (IRE) | Pat Smullen (IRE) | 53.5 kg | 11 | 20th |
| 13 | Glencadam Gold (IRE) | Gai Waterhouse | Tommy Berry | 53.5 kg | 7 | 6th |
| 14 | Green Moon (IRE) | Robert Hickmott | Brett Prebble | 53.5 kg | 5 | 1st |
| 15 | Maluckyday (NZ) | Michael, Wayne & John Hawkes | Jim Cassidy (NZ) | 53.5 kg | 9 | 19th |
| 16 | Mourayan (IRE) | Robert Hickmott | Hugh Bowman | 53.5 kg | 3 | 7th |
| 17 | My Quest For Peace (IRE) | Luca Cumani (UK) | Corey Brown | 53.5 kg | 1 | 10th |
| 18 | Niwot | Michael, Wayne & John Hawkes | Dwayne Dunn | 53.5 kg | 15 | 15th |
| 19 | Tac De Boistron (FR) | Michael Kent | Olivier Doleuze (FR) | 53.5 kg | 21 | 23rd |
| 20 | Lights of Heaven (NZ) | Peter Moody | Luke Nolen | 53 kg | 17 | 16th |
| 21 | Precedence (NZ) | Bart Cummings | Blake Shinn | 53 kg | 20 | 9th |
| 22 | Unusual Suspect (USA) | Michael Kent | Glyn Schofield | 53 kg | 23 | 21st |
| 23 | Zabeelionaire (NZ) | Leon Corstens | Craig Newitt | 52 kg | 24 | 22nd |
| 24 | Kelinni (IRE) | Chris Waller | Glen Boss | 51 kg | 10 | 4th |