The 2012–13 Football League Championship (known as the npower Championship for sponsorship reasons) was the ninth season of the league under its current title and twentieth season under its current league division format. The season began on 17 August 2012 with promotion candidates Cardiff City hosting newly promoted Huddersfield Town at Cardiff City Stadium and finished on 27 May 2013 with the play-off final.

Of the 24 teams which participate, eighteen of these remain following the 2011–12 Football League Championship. They were joined by Charlton Athletic, Sheffield Wednesday and Huddersfield Town from 2011–12 Football League One, and Blackburn Rovers, Bolton Wanderers and Wolverhampton Wanderers from the 2011–12 Premier League. The final place was decided on 26 May 2012, as Huddersfield Town defeated Sheffield United 8–7 on penalties, in the 2012 Football League One play-off final.

Cardiff City won the league in their first season since a controversial rebrand; they achieved promotion to the top flight for the first time since 1960 and became the second Welsh club to play in the Premier League. The second automatic promotion spot was won by Hull City with a 2–2 draw against Cardiff on the final day after a dramatic finale to the season. Watford, just two points behind, had to settle for a place in the playoffs, joining Brighton & Hove Albion, Crystal Palace, and Leicester City, who secured their place with a last-minute goal over rivals Nottingham Forest. In the playoffs, Watford defeated Leicester City 3–2, Crystal Palace defeated Brighton 2–0, and in the final Watford was upset by Crystal Palace to gain the promotion. Bristol City, Wolverhampton Wanderers, and Peterborough United were relegated. Peterborough gained 54 points, the highest ever for a relegated team in Championship history. Wolves' relegation was the first time a team had been relegated from the top tier to the third tier in consecutive seasons since Swindon Town in 1994 and 1995. They also became the first team to achieve this feat twice.

On 25 April 2012, it was announced that financial fair play rules would be introduced for teams within The Championship. This means that clubs have agreed to new rules on sustainable financing which includes:

Also the 2011–12 season saw Football League clubs vote for five substitutes instead of seven. However, on 1 June 2012, Football League clubs re-voted with the outcome of seven substitutes instead of five, ahead of the 2012–13 Football League season.

A total of 24 teams contest the division: 18 sides remaining in the division from last season, three relegated from the Premier League, and three promoted from the League One.

The final day of the season fell on 4 May 2013. Watford and Hull City were both fighting for 2nd place and automatic promotion to the 2013–14 Premier League. Crystal Palace, Leicester City, Bolton Wanderers and Nottingham Forest were all fighting for 5th and 6th place, and for a play-off spot. However, on the final day, it was mathematically possible for any 2 of 7 teams to get relegated alongside already relegated Bristol City. These teams were Wolverhampton Wanderers, Peterborough United, Huddersfield Town, Blackburn Rovers, Millwall, Barnsley and Sheffield Wednesday.

Late drama occupied all three battles, with the headlines inevitably going to Hull, who won promotion to the Premier League after a 2–2 draw with newly crowned champions Cardiff City and Watford being beaten 2–1 by Leeds United. Hull were 2–1 up and in the 91st minute when they were awarded a penalty which could have sealed their 2nd place spot. Hull missed their penalty and in the 93rd minute, Cardiff were awarded a penalty, which was converted by Nicky Maynard, bringing the score to 2–2. After a serious injury delayed the match, the Watford game was fifteen minutes behind the other games, so with the score at 1–1, Watford knew that a win would secure their promotion to the Premier League. In the 89th minute Leeds scored to make it 2–1. The scores stayed that way and promotion for Hull was assured.