In the 1972-1973 season, Cowens averaged 20.5 ppg, 16.2 rpg and 4.1 apg while helping the Celtics to a league-best 68–14 record. In that season also, Cowens scored 20 points, grabbed a career-high 32 rebounds and dished out 9 assists in a home win over the Houston Rockets. He carried the Celtics to the semifinals, where they met the New York Knicks. They won Game 1 of that best-of-7 series after Cowens recorded 15 points and 18 rebounds. However, they bowed out to the Knicks in Game 7. Cowens was chosen the NBA MVP as well as MVP of the All-Star Game that same season. Cowens and fellow Celtic Bill Russell both have the distinction of being named MVP of the league but not being included on the All-NBA First Team.