The 1992 Philippine Basketball Association (PBA) First Conference was the first Conference of the 1992 PBA season. It started on February 9 and ended on May 5, 1992. The tournament requires a 6'5" and below import for each team.

Format

The following format will be observed for the duration of the conference:

• The teams were divided into 2 groups.

• Teams in a group will play against each other once and against teams in the other group twice; 11 games per team; Teams are then seeded by basis on win–loss records. Ties are broken among point differentials of the tied teams. Standings will be determined in one league table; teams do not qualify by basis of groupings.^[1]
• The top five teams after the eliminations will advance to the semifinals.^[2]
• Semifinals will be two round robin affairs with the remaining teams. Results from the elimination round will be carried over. A playoff incentive for a finals berth will be given to the team that will win at least five of their eight semifinal games.
• The top two teams (or the top team and the winner of the playoff incentive) will face each other in a best-of-seven championship series. The next two teams will qualify for a best-of-five playoff for third place.

Elimination round

Team standings

Semifinal berth playoff

Semifinals

Team standings

Finals berth playoff

Third place playoffs

Finals