The 1992 Calder Cup playoffs of the American Hockey League began on April 7, 1992. The twelve teams that qualified, four from each division, played best-of-seven series for division semifinals and division finals. The highest remaining seed received a bye for the third round while the other two remaining teams played a best-of-three series, with the winner advancing to play the bye-team in a best-of-seven series for the Calder Cup. The Calder Cup Final ended on May 29, 1992, with the Adirondack Red Wings defeating the St. John's Maple Leafs four games to three in a series in which the visiting team won every game to win the fourth Calder Cup in team history. Adirondack's Allan Bester won the Jack A. Butterfield Trophy as AHL playoff MVP.
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Playoff seeds
After the 1991-92 AHL regular season, twelve teams qualified for the playoffs. The top four teams from each division qualified for the playoffs. The Fredericton Canadiens finished the regular season with the best overall record.
Atlantic Division
- Fredericton Canadiens - 96 points
- St. John's Maple Leafs - 90 points
- Cape Breton Oilers - 82 points
- Moncton Hawks - 74 points
Northern Division
- Springfield Indians - 94 points
- Adirondack Red Wings - 84 points
- New Haven Nighthawks - 82 points
- Capital District Islanders - 75 points
Southern Division
- Binghamton Rangers - 91 points
- Rochester Americans - 86 points
- Hershey Bears - 83 points
- Utica Devils - 74 points
Bracket
In each round the team that earned more points during the regular season receives home ice advantage, meaning they receive the "extra" game on home-ice if the series reaches the maximum number of games. For the Semifinal round, the team that earned the most points during the regular season out of the three remaining teams receives a bye directly to the Calder Cup Final. There is no set series format due to arena scheduling conflicts and travel considerations.
Division Semifinals
Note 1: Home team is listed first. Note 2: The number of overtime periods played (where applicable) is not specified(N1) Springfield Indians vs. (N2) Adirondack Red Wings
Minor league star Bruce Boudreau played his final game in this series, appearing for Adirondack as an emergency injury replacement in the third and fourth matches.