The 1991–92 FIBA European League, also shortened to 1991–92 FIBA EuroLeague, was the 35th installment of the European top-tier level professional club competition for basketball clubs (now called EuroLeague).

The competition's Final Four was held at the Abdi İpekçi Arena in Istanbul, Turkey.

It was won by Partizan, who defeated Montigalà Joventut, by a result of 71–70.

This was because the new competition format was closer to a true European League in style.

If teams are level on record at the end of the Regular Season, tiebreakers are applied in the following order: ** Kalev played in the tournament as USSR League 1990-1991 champion.