The 1992 Illinois Fighting Illini football team was an American football team that represented the University of Illinois during the 1992 NCAA Division I-A football season. In their second year under head coach Lou Tepper, the Illini compiled a 6–5–1 record, finished in fourth place in the Big Ten Conference, and lost to Hawaii in the 1992 Holiday Bowl. Quarterback Jason Verduzco led the team with 1,779 passing yards, while led with 593 rushing yards. John Wright led with 508 receiving yards.