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Italian MEP Silvia Costa announced the three finalists at a press conference in Rome.
The other two shortlisted films are Tabu, directed by Miguel Gomes from Portugal and the Italian director Andrea Segre?s first feature Shun Li and the Poet.
The 2012 LUX Prize will be awarded in Strasbourg on November 21.
Just the Wind took the Silver Bear at this year?s Berlinale. The film focuses on the members of a Roma family who live on an isolated farm in Hungary under threat from a racist gang.
The LUX Prize was established in 2007 as a tangible symbol of the European Parliament?s commitment to the European film industry and its creative endeavours.
Since then, the European Parliament casts an annual spotlight on films that go to the heart of the European public debate. Beyond the stories they tell, these films explore and question European shared values, look at the level of support for the project of building Europe and address cross-border concerns such as immigration, justice, solidarity, public freedoms and fundamentals rights. Each film offers a glimpse into the lives of Europeans, their convictions and doubts and their quest for identity.