The season ended when the Texans defeated the Houston Oilers in the AFL Championship game.
The AFL had 8 teams, grouped into two divisions. Each team would play a home-and-away game against the other 7 teams in the league for a total of 14 games, and the best team in the Eastern Division would play against the best in the Western Division in a championship game. If there was tie in the standings, a playoff would be held to determine the division winner.
The 1962 season started out as a race between Houston and Boston in the East, and Dallas and Denver in the West. After seven games, the Broncos were 6–1–0 and the Texans right behind at 5–1–0, while Boston and Houston were tied at 4–2–0.
In Week Eight, Buffalo beat Denver 45–38, while Dallas won at Houston, 31–7. The Oilers' loss, and Boston's 26–16 win over Oakland, put the Patriots and Texans at the top of their divisions. The next week, though, Houston won its rematch at Dallas, 14–6, and though it did not help the Oilers, Denver made a comeback to win 23–20 at San Diego to reclaim the division lead on November 4. In Week Ten, Boston beat Denver 33–29. Houston stayed half a game behind Boston, while Dallas pulled half a game ahead of Denver.
In Week Eleven (November 18), Houston won at Boston, 21–17, to reclaim the East, and Dallas won 24–3 at Denver to boost its lead. Houston and Boston continued to win, but in the final week, the Oilers clinched the division with a 44–10 in over the Titans.