The main event, as in past Royal Rumble events, was the event's namesake match. The 1992 Royal Rumble match was historic because for the first (and as of 2015, only) time in the history of the WWF, the last man standing in the match would win the WWF Championship, which had been vacated in December 1991. The match was won by Ric Flair, who eliminated Sid Justice with the help of Hulk Hogan from the outside to win the match and the WWF Championship. Featured matches on the undercard were The Natural Disasters (Earthquake and Typhoon) versus The Legion of Doom (Hawk and Animal) for the WWF Tag Team Championship, The Beverly Brothers (Blake and Beau) versus The Bushwhackers (Luke and Butch) and Roddy Piper versus The Mountie for the WWF Intercontinental Championship.
- DARK - Chris Walker defeated The Brooklyn Brawler by disqualification
- The New Foundation (Owen Hart and Jim Neidhart) defeated The Orient Express (Pat Tanaka and Kato) (with Mr. Fuji)
- Roddy Piper defeated The Mountie (c) (with Jimmy Hart) for the WWE Intercontinental Championship
- The Beverly Brothers (Blake Beverly and Beau Beverly) (with The Genius) defeated The Bushwhackers (Bushwhacker Luke and Bushwhacker Butch) (with Jamison)
- The Natural Disasters (Earthquake and Typhoon) (with Jimmy Hart) defeated The Legion of Doom (Hawk and Animal) (c) by countout for the WWE Tag Team Championship
- Ric Flair won by last eliminating Sid Justice - 30-man Royal Rumble match to win the vacant WWE Championship