The Copa Chile 1992 was the 24th edition of the Chilean Cup tournament. The competition started on February 29, 1992 and concluded on June 18, 1992. U. Española won the competition for their second time, beating Colo-Colo 3-1 on the final. The points system used in the first round of the tournament was; 2 points for the winner but, if the winner team scores 4 or more goals, they won 3 points; in case of a tie, every team took 1 point but, no points for each team if the score were 0–0.