Murray State's Isaiah Canaan was named the 2012 Ohio Valley Conference Player of the Year. Canaan averaged 19.4 points, 3.2 rebounds, 3.8 assists and 1.4 steals per game.

Canaan was joined on the All-OVC First Team by teammate Donte Poole, Tennessee Tech's Kevin Murphy and Jud Dillard, and Tennessee State's Robert Covington.

On the All-OVC Second Team are Murray State's Ivan Aska, Austin Peay's John Fraley, Jeremy Granger of Eastern Illinois, Eastern Kentucky's Jaron Jones, Southeast Missouri State's Tyler Stone and Mark Yelovich of SIU-Edwardsville.

Murray State's Jewuan Long was named Defensive Player of the Year, while Tennessee-Martin's Myles Taylor was named Freshman of the Year.