比赛开始后杆位发车的洛伦佐被佩德罗萨超过，本田车手在开始阶段一直占据头名位置，但并未能抛离大部队。Tech 3的两位车手卡尔和多维兹奥兹始终对前面的两名西班牙车手保持压力，但未能得到超越的机会。
随着比赛的进行，后排发车的斯通纳逐渐找到节奏，并且不断完成超越，并在比赛中段连续反超洛伦佐和佩德罗萨升至第一。
取得领先后的斯通纳不断扩大差距，只有雅马哈车手能跟住澳大利亚人的速度，而且逐渐演变成斯通纳与洛伦佐的双人对战，临近比赛结束，洛伦佐不断缩小与斯通纳的差距，并且创造出了反超机会，但冷静的本田车手没有犯错误，并将领先优势保持到了比赛结束。虽然首个MotoGP赛季，但驾驶LCR赛车的斯蒂芬-布拉多表现稳健，并且取得了第七的不错战绩。
海登从最初的第三位一直滑落到第八，而队友罗西从第13位发车，在于奔马车手巴贝拉的缠斗中最终艰难守住第九的位置，但这个成绩无疑对于杜卡迪来说毫无意义。
2012年MotoGP西班牙正赛成绩：
|
Pos
|
Rider
|
Team/Bike
|
Time/Gap
|
|
1
|
Casey Stoner
|
Honda
|
45m33.897s
|
|
2
|
Jorge Lorenzo
|
Yamaha
|
+ 0.947s
|
|
3
|
Daniel Pedrosa
|
Honda
|
+ 2.063s
|
|
4
|
Cal Crutchlow
|
Tech 3 Yamaha
|
+ 2.465s
|
|
5
|
Andrea Dovizioso
|
Tech 3 Yamaha
|
+ 18.100s
|
|
6
|
Alvaro Bautista
|
Gresini Honda
|
+ 21.395s
|
|
7
|
Stefan Bradl
|
LCR Honda
|
+ 28.637s
|
|
8
|
Nicky Hayden
|
Ducati
|
+ 28.869s
|
|
9
|
Valentino Rossi
|
Ducati
|
+ 34.852s
|
|
10
|
Hector Barbera
|
Pramac Ducati
|
+ 35.103s
|
|
11
|
Ben Spies
|
Yamaha
|
+ 38.041s
|
|
12
|
Aleix Espargaro
|
Aspar Aprilia
|
+ 1m12.728s
|
|
13
|
Danilo Petrucci
|
Ioda-Aprilia
|
+ 1m18.669s
|
|
14
|
Mattia Pasini
|
Speed Master Aprilia
|
+ 1m29.142s
|
|
15
|
Ivan Silva
|
Avintia Inmotec-Kawasaki
|
+ 1m32.478s
|
|
16
|
Colin Edwards
|
Forward Suter-BMW
|
+ 1m40.577s
|
|
17
|
Karel Abraham
|
Cardion Ducati
|
+ 1 lap
|
|
Retirements
|
Randy de Puniet
|
Aspar Aprilia
|
25 laps
|
|
Retirements
|
James Ellison
|
Forward Suter-BMW
|
24 laps
|
|
Retirements
|
Michele Pirro
|
Gresini FTR-Honda
|
18 laps
|
|
Retirements
|
Yonni Hernandez
|
Avintia FTR-Kawasaki
|
0 laps
|
| Pos | Rider | Team/Bike | Time/Gap |
| 1 | Casey Stoner | Honda | 45m33.897s |
| 2 | Jorge Lorenzo | Yamaha | + 0.947s |
| 3 | Daniel Pedrosa | Honda | + 2.063s |
| 4 | Cal Crutchlow | Tech 3 Yamaha | + 2.465s |
| 5 | Andrea Dovizioso | Tech 3 Yamaha | + 18.100s |
| 6 | Alvaro Bautista | Gresini Honda | + 21.395s |
| 7 | Stefan Bradl | LCR Honda | + 28.637s |
| 8 | Nicky Hayden | Ducati | + 28.869s |
| 9 | Valentino Rossi | Ducati | + 34.852s |
| 10 | Hector Barbera | Pramac Ducati | + 35.103s |
| 11 | Ben Spies | Yamaha | + 38.041s |
| 12 | Aleix Espargaro | Aspar Aprilia | + 1m12.728s |
| 13 | Danilo Petrucci | Ioda-Aprilia | + 1m18.669s |
| 14 | Mattia Pasini | Speed Master Aprilia | + 1m29.142s |
| 15 | Ivan Silva | Avintia Inmotec-Kawasaki | + 1m32.478s |
| 16 | Colin Edwards | Forward Suter-BMW | + 1m40.577s |
| 17 | Karel Abraham | Cardion Ducati | + 1 lap |
| Retirements | Randy de Puniet | Aspar Aprilia | 25 laps |
| Retirements | James Ellison | Forward Suter-BMW | 24 laps |
| Retirements | Michele Pirro | Gresini FTR-Honda | 18 laps |
| Retirements | Yonni Hernandez | Avintia FTR-Kawasaki | 0 laps |
