Fourteen teams participated in the 1992–93 Cypriot Second Division.
The team with the most points at the end of the season crowned champions.
Evagoras Paphos won both matches and secured their place in the 1993–94 Cypriot First Division.
The 12th-placed team, Onisilos Sotira, faced the 3rd-placed team of the 1992–93 Cypriot Third Division, Tsaggaris Peledriou, in a two-legged relegation play-off for one spot in the 1993–94 Cypriot Second Division.
Onisilos won both matches and secured their place in the 1993–94 Cypriot Second Division.