The 1992 Formula One World Championship was the 46th season of FIA Formula One motor racing. It featured the 1992 Formula One World Championship for Drivers and the 1992 Formula One World Championship for Constructors, which were contested concurrently over a sixteen-race series that commenced on 1 March and ended on 8 November. Nigel Mansell won the Drivers' Championship, and Williams-Renault won the Constructors' Championship.

Mansell won the first five races of the season and went on to become the first driver in Formula One history to win nine World Championship races in a single season. He sealed the Drivers' Championship at the Hungarian Grand Prix in mid-August, with five races still to run, becoming the first Briton to win the championship since James Hunt in 1976. Reigning champion Ayrton Senna won three races for McLaren-Honda but could only manage fourth in the championship, with Mansell's Williams teammate Riccardo Patrese finishing second and young Michael Schumacher third for Benetton-Ford.