A 3–3 draw at Tehelné pole and a 5–2 victory at their Loftus Road home saw QPR progress to the third round, where West German club 1.
A 3–0 home win for Rangers in the first leg was a good start, and although QPR were beaten 4–1 at the Müngersdorfer Stadion, the West Londoners went through to the quarter-final on the away goals rule.
QPR - by now the last remaining English club in the tournament - took the home leg 3–0, but AEK matched it at the Nikos Goumas Stadium.
Rangers won the home leg 6–2, however a 4–0 loss in Belgrade meant that Partizan progressed due to the away goals rule.
This resulted in the teams finishing fourth and fifth in the 1992–93 season - Blackburn Rovers and QPR respectively - missing out on a place in the 1993–94 UEFA Cup.