The T-72A tank was in production until 1985, along with export versions T-72M and T-72M1. The T-72B entered production in 1985. The export version of the T-72B, the T-72S has a new engine and suspension system and is configured for mounting explosive reactive armour.

The tank is fitted with a 125 mrn D-81 smoothbore gun, a 7.62 mm co-axial machine gun and a 12.7 mm air defence machine gun mounted on the commander's cupola. The tank carries 45 rounds of 125 mm ammunition, 22 rounds of which are carried on an automatic loading carousel. The gun fires separate loading armour piercing discarding sabot rounds (APDS), high explosive anti-tank rounds (HEAT) and high explosive fragmentation (HE-FRAG) projectiles. Fire accuracy is attained by a laser rangefinder sight, ballistic computer and a thermal barrel sleeve. Dual axis stabilisation ensures effective firing on the move.

The tank's anti-armour missile system is the 9K120 Svir (Nato codename AT-11 Sniper), designed by the KBP Instrument Design Bureau, Tula. The system is intended to engage tanks fitted with ERA (Explosive Reactive Armour) as well as low-flying air targets. It has a range of 100 m to 4000 m and firing requires the tank to be stationary. The systems 9M119 missile has semi-automatic laser beamriding guidance. The gun’s automatic loader will feed both ordnance and missiles.

The hull and turret are protected by armour plating, including combined armour arrays over the frontal arc. Since 1988, explosive reactive armour (ERA) has been fitted. The running gear is protected by gill type armour panels. A smokescreen can be laid by the 902B Tucha smoke discharging system or by an exhaust smoke laying system.

The tank is equipped with a V-84 liquid cooled four stroke multi-fuel diesel engine which develops 618 kW (840 hp), providing a power to weight ratio of 13.8 kW/ton, planetary transmission with hydraulic servo-control system, running gear with RMSH track and torsion bar suspension with hydraulic shock absorbers.

The tank has a road speed of 60 km/hour and 35 km/hour on dry earth roads. The range on roads with main fuel tanks is 500 km. The tank can negotiate fording depths to 1.2 m without preparation and snorkels can be fitted for fording to a depth of 5 m.

The T-72SK tank is intended to command and control a number of tank units and maintain communication with the brigade commander. It features an additional AB-1-P/30-Ml-U benzene powered electrical generator to supply electricity when the main powerplant is not operating. It is also equipped with additional communication systems including R-713 radio, R-173P radio-receiver, HF R-134 radio set, R-174 intercom system and TNA-4-3 tank navigation aids.

A number of upgrade packages are available for T-72 series tanks. Kharkov Machine Building Design Bureau (KMDB) of the Ukraine is offering the T-72MP with SAGEM SAVAN sights. They are also developing a version fitted with a Nato standard 120 mm smoothbore gun and automatic loader.

The Czech Republic are upgrading up to 250 T-72M1 tanks to T-72CZ standard, which will include ERA, Officine Galileo TURMS-T fire control system and a new powerpack by NIMDA of Israel with Perkins engine and Allison transmission. Poland has begun an upgrade programme, and India and Croatia are considering modernising T-72 tanks. ZTS Dubnica of Slovenia offer an upgrade for T-72 Moderna tanks.

A number of companies offer systems to upgrade the fire control system of T-72 series tanks with thermal imaging capability. These include: MK-72 from Delft Sensor Systems of Belgium and the Netherlands, SATES from El-Op of Israel, MT-01 from Enosa of Spain, EFCS from Fotona of Slovenia, Tiger from LIW of South Africa, Drawa from PCO of Poland and Sanoet-2 from SAGEM of France.