After first-term Governor Beverly Perdue announced that she would not seek a second term in 2012, Dalton announced that he would be a candidate for governor.
Ahead of the May 8 Democratic primary, Dalton was endorsed by The Charlotte Observer, which described him as "well-versed in both the legislative and executive branches and in the crucial issues facing the state" and as "battle-tested," making him the strongest general election candidate.
The Winston-Salem Journal also endorsed Dalton, writing that he had "considerable success as a legislator and played a major role in launching North Carolina's successful Early College program."
Dalton won the May 8 primary, defeating former U.S. Congressman Bob Etheridge and State Representative Bill Faison 46%–38%–6%.

During the general election, polls gave McCrory anywhere from a two to 14-point advantage.

Rasmussen Reports released a poll August 4 showing Dalton trailing McCrory by 5 points.
In first quarter campaign finance reports, Dalton reported raising about $1 million less than McCrory's campaign.
Dalton also reported having $670,356.14 cash on hand at the end of the reporting period on April 21.
McCrory reported having $3.1 million.

In October 2012, the (Raleigh) News and Observer endorsed Dalton for the general election, writing that "on the merits of experience, knowledge, vision and judgment, [Dalton] is extraordinarily well equipped to give North Carolina the executive leadership it needs."
In 2008, the newspaper had endorsed McCrory.
After first-term Governor Beverly Perdue announced that she would not seek a second term in 2012, Dalton announced that he would be a candidate for governor. Ahead of the May 8 Democratic primary, Dalton was endorsed by The Charlotte Observer, which described him as "well-versed in both the legislative and executive branches and in the crucial issues facing the state" and as "battle-tested," making him the strongest general election candidate. The Winston-Salem Journal also endorsed Dalton, writing that he had "considerable success as a legislator and played a major role in launching North Carolina's successful Early College program." Dalton won the May 8 primary, defeating former U.S. Congressman Bob Etheridge and State Representative Bill Faison 46%–38%–6%.
During the general election, polls gave McCrory anywhere from a two to 14-point advantage.
Rasmussen Reports released a poll August 4 showing Dalton trailing McCrory by 5 points. In first quarter campaign finance reports, Dalton reported raising about $1 million less than McCrory's campaign. Dalton also reported having $670,356.14 cash on hand at the end of the reporting period on April 21. McCrory reported having $3.1 million.
In October 2012, the (Raleigh) News and Observer endorsed Dalton for the general election, writing that "on the merits of experience, knowledge, vision and judgment, [Dalton] is extraordinarily well equipped to give North Carolina the executive leadership it needs." In 2008, the newspaper had endorsed McCrory.
Walter H. Dalton