Elections to the Baseball Hall of Fame for 1992 followed the system in place since 1978. The Baseball Writers' Association of America (BBWAA) voted by mail to select from recent major league players and elected two, Rollie Fingers and Tom Seaver. The Veterans Committee met in closed sessions to consider older major league players as well as managers, umpires, executives, and figures from the Negro leagues. It selected two, Bill McGowan and Hal Newhouser. A formal induction ceremony was held in Cooperstown, New York, on August 2, 1992.

Roland Glen Fingers is an American former right-handed relief pitcher in Major League Baseball who played for three teams between 1968 and 1985. His effectiveness helped to redefine the value of relievers within baseball and to usher in the modern closer role. A seven-time All-Star, he led the major leagues in saves three times, and was named Rolaids Relief Man of the Year four times. He first gained prominence as a member of the Oakland Athletics championship teams of the early 1970s, when his flamboyant handlebar mustache made him perhaps the most identifiable member of The Mustache Gang, which led Oakland to become the only non-New York Yankees team ever to win three consecutive World Series titles. Fingers was named the Most Valuable Player of the 1974 World Series after earning a win in the opener and saves in the last three games to secure the title.