The 1992 Major League Baseball season saw a resurgence in pitching dominance. On average, one out of every seven games pitched that season was a shutout; in 2,106 MLB regular-season games, 298 shutouts were pitched (up from 272 in 2,104 regular-season games in 1991). Two teams pitched at least 20 shutouts each; the Atlanta Braves led the Majors with 24 and the Pittsburgh Pirates finished second with 20. In the National League, no team hit more than 138 home runs and no team scored 700 runs. The San Francisco Giants were shut out 18 times, the most in the Majors. The effect was similar in the American League. In 1991, two AL teams had scored at least 800 runs and three had collected 1,500 hits. In 1992, no team scored 800 runs and only one reached 1,500 hits. The California Angels were shut out 15 times, the most in the AL. The Toronto Blue Jays won the World Series, beating the Braves and winning the first World Series title outside of the United States, also setting a record for the fastest expansion team to win.
July 7 – Andy Van Slyke of the Pittsburgh Pirates becomes the first outfielder in nearly 18 years to record an unassisted double play, in the Pirates' 5–3 win over the Houston Astros. Van Slyke races in from center field to catch a fly ball, then continues in to double up Ken Caminiti, who was running from second base on the play.
September 7 – After receiving an 18–9 no-confidence vote from the owners, Commissioner Fay Vincent is forced to resign. Vincent is soon replaced by Milwaukee Brewers president Bud Selig on what is meant to be an interim basis.
October 24 – The Toronto Blue Jays clinch their first World Series championship with a 4–3 win over the Atlanta Braves in Game 6. Dave Winfield's 2–out, 2–run double in the top of the 11th gives Toronto a 4–2 lead. The Braves score one run in the bottom half of the inning and have the tying run on 3rd when the final out is made. Jimmy Key wins the game in relief, and Candy Maldonado homers for Toronto. Blue Jays catcher Pat Borders, with a .450 batting average, is named the Series MVP. The Toronto Blue Jays finish the season without being swept in any series. It is the first team from outside the United States to win the World Series.
November 16 – The Rockies sign free agent first baseman Andrés Galarraga, who rejoins Don Baylor, his hitting coach with the St. Louis Cardinals. Galarraga is coming off his second injury-plagued year, having missed 44 days of the season after being hit on the wrist by a Wally Whitehurst pitch in the 3rd game of the season.