The BMW V12 LMR is a Le Mans Prototype built for sports car racing from 1999 to 2000. The car was built through an alliance between BMW Motorsport and Williams Racing, and was the successor to the failed BMW V12 LM of 1998. It is famous for earning BMW its only overall victory to date at the 24 Hours of Le Mans.

Immediately following the 1998 24 Hours of Le Mans in which both BMW V12 LMs had failed to finish due to mechanical difficulties and a slow pace caused by aerodynamic inefficiencies, BMW Motorsport made the decision to radically revamp their sportscar project and quickly replace the V12 LM with a new car for 1999, the V12 LMR.

The V12 LMR retained only the basic structures of the V12 LM; all of the car's bodywork was redone from scratch. The cooling ducts, a major problem on the V12 LM, were moved to the top of the car instead of from the bottom where it had suffered from ambient track heat. Among the more radical design features was the use of a small roll hoop located only behind the driver's seat, instead of a wide roll hoop that covered the entire cockpit. This took advantage of a loophole in the ACO's Le Mans prototype regulations, and reduced drag and obstruction for the air to the rear wing. A total of four new chassis were built by Williams Racing in the United Kingdom.

Internally, the V12 LMR retained the same BMW S70/3 5990 cc V12 engine as the V12 LM. Responsibility for running the cars was handed over to Schnitzer Motorsport, which ran the team not only at the 24 Hours of Le Mans but also in the new American Le Mans Series for 1999.

Debuting at the 12 Hours of Sebring, BMW Motorsport and Schnitzer Motorsport entered a two-car team. The cars were immediately fast, taking the pole position in qualifying. During the race, both cars ran towards the front for the first six hours. V12 LMR chassis #001 had a large accident, damaging the car to the point that it would never race again. The second V12 LMR took the overall win.

The team went back to Europe with what they had learned at Sebring in order to prepare for Le Mans. In early May, at the initial test session for Le Mans, three V12 LMRs appeared. In the tradition of the famous BMW Art Cars, one of the two undamaged cars featured a paint job created by artist Jenny Holzer. Unlike at Sebring, the V12 LMRs would be facing closed-cockpit prototypes which were theoretically faster over a single lap, but not as fuel-efficient. Even with this apparent setback, a V12 LMR was able to take the fourth-fastest lap time over the practice session, behind two Toyota GT-Ones and a Panoz prototype.

For the race, only two cars appeared, with the Art Car being dropped from the line-up. In qualifying the two LMRs again showed their speed, taking 3rd and 6th places, again beaten only by the Toyota GT-Ones. During the race the V12 LMRs ran strong, outlasting a large number of closed cockpit competitors which suffered woes, including Mercedes-Benz, Nissan, Toyota, and Audi. In the second half of the race, BMW's main competitors were a pair of open-cockpit Audi R8Rs and the lone remaining Toyota GT-One. In the closing hours of the race, the #17 BMW V12 LMR driven by JJ Lehto crashed heavily in the Porsche Curves section of the track due to a stuck throttle. This left the #15 BMW LMR in the lead, less than a lap ahead of the 2nd place Toyota. The Toyota was catching the BMW in the final hour until it suffered a tire blowout at high speed, allowing the Schnitzer BMW team to solidify their lead. The driving team of Joachim Winkelhock, Pierluigi Martini, and Yannick Dalmas were successful in bringing the V12 LMR home for the victory, a single lap ahead of the GT-One.

The BMW V12 LMR is estimated to put out about 580 hp, which in the 1999 24 Hours of Le Mans allowed the German prototype to hit 342 km/h (214 mph) on the Mulsanne Straight.