The accepted answer, will work only by chance when the system's Locale is an English locale. It will fail if the system's Locale is non-English. It is because a date-time formatting/parsing type is locale-sensitive, and since 03/26/2012 11:49:00 AM is in English, an English locale should be specified with the formatting/parsing type. Check Always specify a Locale with a date-time formatter for custom formats to learn more about it.
The answer by mDonmez has used an English Locale but the format does not match the input string.
java.time
The modern java.time date-time API, introduced with Java 8 in March 2014, supplanted the error-prone legacy java.util date-time API. It is highly recommended to use java.time API for any new code.
Solution using java.time API
Your input does not have a time zone. Use a DateTimeFormatter with the required format to parse the input into a LocalDateTime.
Demo:
import java.time.*;
import java.time.format.DateTimeFormatter;
import java.util.Locale;
public class Main {
private static final DateTimeFormatter PARSER =
DateTimeFormatter.ofPattern("MM/dd/uuuu hh:mm:ss a", Locale.ENGLISH);
public static void main(String[] args) {
String strDateTime = "03/26/2012 11:49:00 AM";
LocalDateTime ldt = LocalDateTime.parse(strDateTime, PARSER);
System.out.println(ldt);
}
}
Output:
2012-03-26T11:49
Online Demo
Formatted output:

I have added the following section, thanks to Anonymous.
DateTimeFormatter FORMATTER =
DateTimeFormatter.ofPattern("M/d/uuuu hh:mma", Locale.ENGLISH);
System.out.println(ldt.format(FORMATTER));
Output:
3/26/2012 11:49AM
Online Demo
Learn more about the modern Date-Time API from Trail: Date Time.
Dateclass.