The 1991–92 Oklahoma State Cowboys basketball team represented Oklahoma State University as a member of the Big Eight Conference during the 1991–92 NCAA Division I men's basketball season. The team was led by second-year head coach Eddie Sutton and played their home games at Gallagher-Iba Arena. The Cowboys won their first 20 games and rose to the No. 2 ranking in both major polls. They finished with a record of 28–8 (8–6 Big Eight) and tied for second in Big Eight regular season play.