The 1991–92 Asian Cup Winners' Cup was the second edition of association football competition run by the Asian Football Confederation specifically for its members cup holders.

	First round						Second round						Quarter-finals						Semi-finals						Final
	Al-Ahli	1	0	1
	Al-Ramtha	0	2	2
							Al-Ramtha	1	1	2
							Dhofar	0	1	1
	Sharjah	2	0	2
	Dhofar (a)	1	1	2
													Al-Ramtha (a)	0	1	1
													Malavan	0	1	1
																			Al-Ramtha	0	1	1
																			Al-Nassr	1	2	3
	Al-Sadd	1	1	2 (2)
	Kazma (p)	1	1	2 (4)
													Kazma	0	1	1
													Al-Nassr	1	2	3
	Al-Nassr	2	2	4
	Al-Ansar	1	1	2
							Al-Nassr	2	0	2
							Al-Ahli	0	0	0
																									Al-Nassr	1	0	1
																									Nissan	1	5	6
	Abahani KC	0	0	0
	East Bengal	0	1	1
													East Bengal	1	0	1
													Nissan	3	4	7
	Nissan	6	0	6
	Geylang	0	0	0
																			Nissan	2	0	2
																			Pupuk Kaltim	0	0	0
	Pupuk Kaltim	6	3	9
	Karachi Port Trust	0	0	0
													Pupuk Kaltim			w/o
													Sinugba1

¹ Withdrew.

Team 1	Agg.Tooltip Aggregate score	Team 2	1st leg	2nd leg
Sharjah	2–2 (a)	Dhofar	2–1	0–1
Al Sadd	2–2 (2–4p)	Kazma	1–1	1–1
Al Nassr	4–2	Al Ansar	2–1	2–1
Al Ahli	1–2	Al Ramtha	1–0	0–2
Al Ahli	bye
Malavan	bye

Team 1	Agg.Tooltip Aggregate score	Team 2	1st leg	2nd leg
Nissan	6–0	Geylang	6–0	0–0
Pupuk Kaltim	9–01	Karachi Port Trust	6–0	3–0
Abahani KC	0–1	East Bengal	0–0	0–1
Sinugba	bye2

¹ Pupuk Kaltim entered as the Indonesian league runners-up for 1990, as the 1990/92 league had not yet finished.
² Sinugba were drawn against the South Korean representatives, but the South Korean FA did not send a team.

Team 1	Agg.Tooltip Aggregate score	Team 2	1st leg	2nd leg
Al Nassr	2–0	Al Ahli	2–0	0–0
Al Ramtha	2–1	Dhofar	1–0	1–1
Malavan	bye
Kazma	bye

Team 1	Agg.Tooltip Aggregate score	Team 2	1st leg	2nd leg
Al Ramtha	1–1 (a)	Malavan	0–0	1–1
Kazma	1–3	Al Nassr	0–1	1–2
East Bengal	1–7	Nissan	1–3	0–4
Pupuk Kaltim	w/o1	Sinugba

¹ Sinugba withdrew.

Team 1	Agg.Tooltip Aggregate score	Team 2	1st leg	2nd leg
Al Ramtha	1–3	Al Nassr	0–1	1–2
Nissan	2–0	Pupuk Kaltim	2–0	0–0

Al Nassr lost 5-0 was the record in the finals of the Asian Cup Winners' Cup

Team 1	Agg.Tooltip Aggregate score	Team 2	1st leg	2nd leg
Al Nassr	1–6	Nissan	1–1	0–5

January 30, 1992

Al Nassr	1–1	Nissan
Walid Al Torayr 72'		Koichi Hashiratani 04'

Prince Faisal bin Fahd Stadium, Riyadh

Referee: Fayez Betar (Syria)

February 7, 1992

Nissan	5–0	Al Nassr
Everton 35' Carlos Renato 37', 52', 62' Matsuhashi 70'

Nissan fc Stadium

• Asian Cup Winners Cup 1992