In 2012, Daley finished his two-year A-level studies in mathematics, Spanish and photography. Daley decided not to undertake an International Baccalaureate course because of the pressures he faced in his preparation for the 2012 Olympics. He received an A* in his Photography A-level, and an A in his Spanish and Maths A-levels.
In the 2012 season, a thumb injury forced Daley's withdrawal from the National Cup a few days before the competition (the 10m platform title was won by Max Brick). In February 2012 British Diving's Performance Director Alexei Evangulov criticised Daley's work ethic, stating that he feared Daley's media and commercial activities were to the detriment of his training for the Olympics – a comment which was seemingly backed up when Daley and Pete Waterfield could only finish 7th in the 10m synchro competition in the FINA World Cup event held at the London Aquatics Centre.
Following a clear-the-air meeting between Daley, Evangulov, and Daley's representatives, Daley participated in the 2012 FINA Diving World Series. In the first event held in Dubai, Daley and Waterfield finished 4th in the 10m synchro event, while Daley won silver in the individual 10m event. In the event held in Beijing a week later, Daley and Waterfield won the silver medal in the 10m synchro event, while in the individual event Daley won silver and Waterfield the bronze. Three weeks later, in the Moscow event, Daley won silver in the individual platform event, while the pairing finished fifth in the synchro. In the final DWS meet of the year, in Tijuana, Mexico, Daley won gold in the individual platform event, and the pairing with Waterfield won bronze in the synchro event, although the Chinese did not compete in these events at this meet. Over the whole 2012 Diving World Series, Daley and the Daley/Waterfield pairing won both the overall individual and synchro 10-metre competitions.
In April 2012, Daley won the British elite juniors 10-metre platform title by a margin of 140 points at the Plymouth Life Centre.
In May 2012, Daley regained the European 10-metre platform title when he won gold at the Eindhoven championships with a score of 565.05 points, 49.65 ahead of Victor Minibaev in silver position.
In the British Gas Diving Championships held in Sheffield in June 2012, which were also the Olympic trials, Daley and Waterfield won the 10m synchro platform title with a new British record score of 475.77, more than 140 points ahead of silver medallists Daniel Goodfellow and Ross Haslam on 333.72. In the individual 10m championship, Daley regained the title for the first time since 2009 with a score of 547.60, ahead of Peter Waterfield on 452.80 and James Denny on 390.20.
At the 19th FINA World Junior Diving Championships, held in October 2012 in Adelaide, Australia, Daley lead a strong British team and rather unexpectedly won the Boys "A" 3m synchronised springboard competition together with Jack Laugher, who had won the individual 3m competition, they had had little practice together. Daley and Laugher scored 338.85 points, over 30 points ahead of Ilia Kuzmin and Maxim Popkov.