The theoretical cross section calculations for the astrophysical p process are needed because most of the related reactions are technically very difficult to be measured in the laboratory. Even if the reaction was measured, most of the measured reactions have been carried out at the higher energy range from the astrophysical energies. Therefore, almost all cross sections needed for p process simulation have to be theoretically calculated or extrapolated to the astrophysical energies. 112Sn(alpha,gamma)Te-116 is an important reaction for the p process nucleosynthesis. The theoretical cross section of Sn-112(alpha, gamma)Te-116 reaction was investigated for different global optical model potentials, level density, and strength function models at the astrophysically interested energies. Astrophysical S factors were calculated and compared with experimental data available in the EXFOR database. The calculation with the optical model potential of the dispersive model by Demetriou et al., and the back-shifted Fermi gas level density model and Brink-Axel Lorentzian strength function model best served to reproduce experimental results at an astrophysically relevant energy region. The reaction rates were calculated with these model parameters at the p process temperature and compared with the current version of the reaction rate library Reaclib and Starlib.