The 1932 New York Yankees season was the team's 30th season. The team finished with a record of 107–47, winning their seventh pennant, finishing 13 games ahead of the Philadelphia Athletics. New York was managed by future Hall of Famer Joe McCarthy. A record nine future Hall of Famers played on the team.

Joseph Vincent McCarthy was an American manager in Major League Baseball, most renowned for his leadership of the "Bronx Bombers" teams of the New York Yankees from 1931 to 1946. The first manager to win pennants with both National and American League teams, he won a total nine league pennants and seven World Series championships – the latter is a record tied only by Casey Stengel. McCarthy was elected to the Baseball Hall of Fame in 1957. He recorded a 100-win season six times, a record matched only by Bobby Cox. McCarthy's career winning percentages in both the regular season (.615) and postseason are the highest in major league history. His 2,125 career victories rank ninth all-time in major league history for managerial wins, and he ranks first all-time for the Yankees with 1,460 wins.