The 1991–92 NBA season was the Lakers' 44th season in the National Basketball Association, and 32nd in the city of Los Angeles. This was the start of a new era for the Los Angeles Lakers, as they had to cope with the sudden retirement of their longtime superstar, Magic Johnson, due to an HIV infection. However, he would make a brief return playing in the 1992 NBA All-Star Game winning the All-Star MVP award. During the offseason, the Lakers acquired Sedale Threatt from the Seattle SuperSonics. Without Johnson for the first time since 1979, the Lakers won 10 of their first 13 games including a nine-game winning streak. However, they struggled in February losing seven straight games with a 3–9 record during the month. The Lakers struggled to make the playoffs as they finished sixth in the Pacific Division with a 43–39 record. It would be considered their worst record since the 1975–76 season.

As the #8 seed in the Western Conference, the Lakers were eliminated from the first round of the NBA playoffs in four games by the Portland Trail Blazers. Following the season, Mike Dunleavy left and took a coaching job with the Milwaukee Bucks.

The Lakers would be the first team in NBA history to start out an NBA season with three straight overtime games, with the first one actually being a double-overtime game. While they would wind up being 1-2 to start out the season, and would have to cope with no longer having Magic Johnson on the team soon afterwards, the Lakers would ultimately recover just enough to end their season with a 43-39 record.

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