Panama competed at the 1972 Summer Olympics in Munich, West Germany.

Men's 800 metres

• Donaldo Arza

• Heat — 1:51.2 (→ did not advance)

Men's 1500 metres

• Donaldo Arza

• Heat — 3:41.7 (→ did not advance)

Men's Bantamweight (– 54 kg)

• Luis Ávila

• First Round — Lost to Juan Francisco Rodríguez (ESP), 0:5

Men's Lightweight (– 60 kg)

• Roy Hurdley

• First Round — Lost to Ivan Mikhaylov (BUL), referee stopped contest

Men's Lightweight

• Ildefonso Lee

Men's Heavyweight

• Henry Phillips

Men's Freestyle Flyweight

• Wanelge Castillo

Men's Freestyle Lightweight

• Segundo Olmedo

• sports-reference
• Official Olympic Reports