There were seven teams in the Canberra League in 1962, Acton, Ainslie, Eastlake, Manuka, Queanbeyan, RMC and Turner.
After the home and away games Ainslie finished in fourth position.
Ainslie defeated Acton in an upset win in the First Semi-Final.
- Final score: Ainslie 14.12-96 def Acton 10.14-74
- Goal kickers for Ainslie: Durkin 7, Cawson 2, Neeson 1, Browning 1, Robbie 1, Heales 1, Edwards 1
- Best: Durkin, Hawke, Browning, Gowans, Carnegie
Ainslie met Manuka in the Preliminary Final to win the right to play Eastlake in the Grand Final.
Ainslie defeated Manuka to advance to their fifth successive Grand Final with a 32 point win.
- Final score: Ainslie 12.17-89 def Manuka 8.9-57
- Goal kickers for Ainslie: Horey 3, Heales 2, Cawson 2, Durkin 2, Browning 1, Neeson 1, Edwards 1
- Best: Horey, Kershaw, Gowans, Carnegie, Ray
In the Grand Final was held at Narrabundah Oval Ainslie were defeated by Eastlake by 15 points in conditions described as the worst experienced for a Grand Final. The game was played in blinding rain and on a water-logged ground.
- Final score: Eastlake 4.9-33 def Ainslie 2.6-18
- Goal kickers for Ainslie: Heales 1, Durkin 1
- Best: Gowans, Carnegie, Edwards, Kershaw, Durkin, Reid
- Captain/Coach: Norm Neeson
Second Grade
The Ainslie Second Grade team missed out on the finals.
Club Awards
First Grade
- Best & Fairest: Bruce Carnegie
- Runner Up B&F: D Gowans
- Most Consistent: B Kershaw
- Best Utility: R Edwards
Second Grade
- Best & Fairest: C McDonald
- Runner Up B&F: J Speering
- Most Consistent: K Moore
- Best Utility: I Misko
Intermediate Grade
- Best & Fairest: J Williams
- Runner Up B&F: C Law
- Most Consistent: K McLeod
- Best Utility: N Harle
Juniors
- Best & Fairest: B Read
- Runner Up B&F: P Martin
- Most Consistent: R Hall
- Best Utility: V Evans
Club Officials
- President: Harry Gaylard
- Senior Vice President: Stan Ray
- Vice Presidents: A Bryan, C Burmester, J Cleary, T Evans, C Gregory, J Horgan, M F Kildea, H E Kruger, N Lynraven, B Martin, J Rennes, B Whatman, J Watt, C Williams
- Treasurer: R Glynn
- Secretary: Alan Ray
- Committee: R Alder, J Backen, A Bright, E Clifford, T Graham, L James, H McCulloch, Norm Neeson, J Rowe
- Patrons: Ralph Lewis, R W Chew