Full details of all nominees on the SFWA Nebula Awards 1972 Page.
Arthur C Clarke A Meeting with Medusa.
Originally published in Playboy
Winner : Best Novella.
Fredrik Pohl Shaffery Among the Immortals
William Rostler Patron of the Arts
Joanna Russ When it Changed
Winner Best Short Story
Harlan Ellison On the Downhill Side
Gene Wolfe The Fifth Head of Cerberus
Robert Silverberg When We Went to See the Edge of the World
Poul Anderson Goat Song
Originally in The Magazine of Fantasy & Science Fiction
Winner Best Novelette.