The 1932 Cole's American Giants baseball team represented the Cole's American Giants in the Negro National League (NNL) during the 1932 baseball season. The team compiled a 50–32 (.610) record and won the NNL pennant. Dave Malarcher was the team's player-manager. The team played its home games at South Side Park in Chicago. The team's leading batters were: The team's leading pitchers were Willie Foster (8–5, 2.09 ERA, 76 strikeouts) and Melvin Powell (8–3, 2.49 ERA).