| | | Thursday, October 12th, 1972 | | LF P. Ward voids his last optional contract year. |
| Saturday, June 17th, 1972 | | Signed SS B. Mazeroski to a 2-year contract extension worth a total of $1,780,000. |
| Saturday, February 19th, 1972 | | Signed free agent 3B D. Rader to a 1-year contract worth a total of $300,000. |
| Thursday, February 17th, 1972 | | Signed free agent MR K. Sanders to a 1-year contract worth a total of $330,000. |
| Saturday, February 12th, 1972 | | Signed free agent SS C. Boyer to a 1-year contract worth a total of $840,000. |
| Wednesday, February 9th, 1972 | | Signed free agent 1B K. Boswell to a 1-year contract worth a total of $310,000. | | Signed free agent C T. Simmons to a 1-year contract worth a total of $360,000. |
| Sunday, February 6th, 1972 | | Signed free agent RF H. Aaron to a 3-year contract worth a total of $30,200,000. | | Signed free agent MR D. Giusti to a 3-year contract worth a total of $1,740,000. |
| Thursday, February 3rd, 1972 | | Signed free agent 3B J. Foy to a 1-year contract worth a total of $480,000. |
| Monday, November 1st, 1971 | | MR H. Parker received a 1-year contract through automatic renewal worth a total of $300,000. | | LF S. Braun received a 1-year contract through automatic renewal worth a total of $500,000. | | C M. May received a 1-year contract through automatic renewal worth a total of $300,000. | | MR R. Folkers received a 1-year contract through automatic renewal worth a total of $300,000. | | C C. Taylor received a 1-year contract through automatic renewal worth a total of $2,000,000. | | MR D. Knowles received a 1-year contract through automatic renewal worth a total of $495,000. | | 1B C. May received a 1-year contract through automatic renewal worth a total of $2,000,000. | | SP D. Boswell received a 1-year contract through automatic renewal worth a total of $300,000. | | SP B. Parsons received a 1-year contract through automatic renewal worth a total of $500,000. | | CL B. Johnson received a 1-year contract through automatic renewal worth a total of $1,000,000. | | SP S. Bahnsen received a 1-year contract through automatic renewal worth a total of $2,000,000. | | CF A. Otis received a 1-year contract through automatic renewal worth a total of $2,400,000. | | 3B T. Harrah received a 1-year contract through automatic renewal worth a total of $1,500,000. | | CF T. Uhlaender received a 1-year contract through automatic renewal worth a total of $1,000,000. | | 1B C. Salmon received a 1-year contract through automatic renewal worth a total of $300,000. | | SP J. Janeski received a 1-year contract through automatic renewal worth a total of $500,000. | | MR R. Perranoski received a 1-year contract through automatic renewal worth a total of $500,000. | | RF M. Rettenmund received a 1-year contract through automatic renewal worth a total of $500,000. | | Released RF R. Clemente. |
| Friday, October 29th, 1971 | | SP B. Singer received a 1-year contract through arbitration worth a total of $4,434,600. | | SP W. Wood received a 1-year contract through arbitration worth a total of $4,400,400. | | RF R. Staub received a 1-year contract through arbitration worth a total of $616,000. | | 3B T. Perez received a 1-year contract through arbitration worth a total of $4,600,000. |
| Friday, October 8th, 1971 | | SS J. Pagan retires. |
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