Stephen Hendry retained the title by beating James Wattana 9–5 in the final.

After the final the Benson & Hedges Masters trophy was given to Hendry to keep for winning the event five times in a row.

Nigel Bond, Darren Morgan and Chris Small were making their debuts in the Masters.

In the preliminary round, the wild-card players plays the 15th and 16th seeds:[2][3] [2][3] Chris Small won the qualifying tournament, known as the 1992 Benson & Hedges Championship at the time.

The event carried ranking points, but only ten percent of the usual tariff.