The 1992 Hanes 500 was the eighth stock car race of the 1992 NASCAR Winston Cup Series season and the 43rd iteration of the event.

In a race marred with rear axle failures, Roush Racing driver Mark Martin would manage to keep his car intact and hold off the field on the final restart with four to go to take his sixth career NASCAR Winston Cup Series victory and his first victory of the season.

[1][2] To fill out the top three, Junior Johnson & Associates driver Sterling Marlin and owner-driver Darrell Waltrip would finish second and third, respectively.

At 0.526 miles (0.847 km) in length, it is the shortest track in the NASCAR Cup Series.

Darrell Waltrip, driving for his own Darrell Waltrip Motorsports team, would win the pole, setting a time of 20.371 and an average speed of 92.956 miles per hour (149.598 km/h) in the first round.