Although the league was still called the VFL until the start of the 1990 season, the 1992 season was the unofficial 6th AFL season as the league expanded from 12 clubs to 14 clubs in 1987.
The new clubs were West Coast Eagles and Brisbane Bears. Last season, Adelaide Crows joined the AFL to bring the number of clubs to 15. With the additional clubs, 6 clubs now participate in the finals series.
- After leaving Hawthorn at the end of the 1990 season, Allan Jeans returned to coaching at Richmond, replacing Kevin Bartlett.
- Gary Buckenara replaced Col Kinnear as coach at Sydney Swans.
Essendon started playing their home matches at MCG, leaving Windy Hill.
Footscray climbed 8 places which took them into the Preliminary Final. Melbourne fell 6 places to not qualify for the finals series for the 1st time during the AFL years.
After being runners-up in 1991, the West Coast Eagles went one step better and won their 1st AFL Premiership. Geelong were minor premiers. Whilst Sydney Swans won the wooden spoon.
The Coleman Medal for the leading goalscorer was awarded to Jason Dunstall of Hawthorn, the third time in 5 seasons. Scott Wynd of Footscray won the Brownlow Medal.
|4||West Coast Eagles||Qualifying Semi Final|
|West Coast Eagles||Grand Final|
|Qualifying Final||Geelong||Preliminary Final||West Coast Eagles|
|2||Footscray||Eliminating Semi Final||Footscray|
|Elimination Final||St Kilda|