1991–92 Real Madrid CF season

The 1991–92 season was the 61st season for Real Madrid C.F. in La Liga.

Summary
Real Madrid won no trophies for the second season in a row. Real Madrid handed the league title to Barcelona on the final day of the campaign after a 3–2 defeat against Tenerife, even throwing away a 2-0 lead. Serbian coach Radomir Antić was suddenly sacked in January despite Real leading the league in the standings.

On the other hand, Real lost the Copa del Rey final to Atlético Madrid and also suffered an embarrassing exit in the 1991-92 UEFA Cup at the hands of Torino.