The 1991–92 Wake Forest Demon Deacons men's basketball team represented Wake Forest University as a member of the Atlantic Coast Conference during the 1991–92 NCAA men's basketball season.

The team was led by third year head coach Dave Odom, and played their home games at LJVM Coliseum in Winston-Salem, North Carolina.

The Demon Deacons finished sixth in the rugged ACC with an 7–9 conference record.

Making their second straight appearance in the "Big Dance," Wake Forest was eliminated by Louisville in the opening round to finish with a 17–12 overall record.

Wake Forest took a big step forward by finishing in a tie for third in the ACC regular season standings with an 8–6 conference record.