The 2011–12 Oklahoma City Thunder season was the 4th season of the franchise's existence in Oklahoma City as a member of the National Basketball Association (NBA). The Thunder continued to build on recent success in previous years by making the NBA Playoffs and advancing to the NBA Finals. Other season highlights included forward Kevin Durant's third consecutive NBA scoring title, and Durant being named the MVP of the All-Star Game.

In contrast to 2010, the NBA draft for the Thunder on June 23, 2011 held little drama. After previously trading their 2011 second-round pick to the Miami Heat, the Thunder were left with only the No. 24 overall pick. They used it to acquire rights to Reggie Jackson, a guard from Boston College.

c – clinched regular-season conference lead
x – clinched playoff spot
y – clinched division

Most Points In A Single Finals Game: Kevin Durant with 40

Backup point guard Eric Maynor suffered a season-ending torn ACL in his right knee in action at Houston on January 7.

Starting shooting guard Thabo Sefolosha suffered from a chronic sore right foot, forcing him to miss 23 games from January 30 through March 13.

Shooting guard Daequan Cook suffered a mild MCL sprain in his right knee against the Utah Jazz on March 20, sidelining him for an estimated 2–3 weeks.

Guard James Harden was diagnosed with concussive symptoms after being elbowed in the back of the head on April 22 by Lakers forward Metta World Peace. Harden was cleared to play for the Thunder's regular season finale against the Denver Nuggets after undergoing NBA-mandated post-concussion tests, but instead sat out until the first game of the playoffs. World Peace received a seven-game suspension for the incident.

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