I am trying to get my first taste of Android development using Eclipse. I ran into this problem when trying to run Eclipse, having installed version 4.2 only minutes ago.
I also encountered the same issue. It turned out that the environment variable Path was pointing to an incorrect Java version.
Please check the environment variable and point it to the correct Java. For example:
C:\Program Files (x86)\Java\jdk1.6.0_17\bin
To check the environment variable, go to:
Computer → properties → Advanced system settings → Advanced -> Environment variables