The 1992 South African Grand Prix was a Formula One motor race held at the Kyalami circuit in Midrand on 1 March 1992. It was the opening round of the 1992 Formula One World Championship. Nigel Mansell dominated the weekend in his Williams-Renault, taking pole position, fastest lap and leading every lap of the race en route to victory for the second time in his career. Mansell's teammate, Riccardo Patrese, asserted the dominance of the car by completing a 1–2 finish. Ayrton Senna completed the podium for the McLaren team.

This was the first post-apartheid South African Grand Prix, the last running of the race having been in 1985. It was held on a revised Kyalami circuit, which used only a small part of the old layout.