The 1992 Bud 500 was the 20th stock car race of the 1992 NASCAR Winston Cup Series season and the 32nd iteration of the event.

At race's end, owner-driver Darrell Waltrip would manage to dominate the late stages of the race to take his 83rd career NASCAR Winston Cup Series victory and his second victory of the season.

Despite its short length, Bristol is among the most popular tracks on the NASCAR schedule because of its distinct features, which include extraordinarily steep banking, an all concrete surface, two pit roads, and stadium-like seating.

For this specific race, positions 15-30 would be decided on time,[3] and depending on who needed it, a select amount of positions were given to cars who had not otherwise qualified but were high enough in owner's points; up to two provisionals were given.

Ernie Irvan, driving for Morgan–McClure Motorsports, would win the pole, setting a time of 15.919 and an average speed of 120.535 miles per hour (193.982 km/h) in the first round.