The sixteenth year of IROC competition took place in 1992. IROC XVI was the third year the Dodge Daytona was used in competition, and continued the format introduced in IROC VIII. Race one took place on the Daytona International Speedway, race two took place at Talladega Superspeedway, and races three and four ran at Michigan International Speedway. Ricky Rudd won the series championship, and took home $175,000 for his efforts.
The roster of drivers and final points standings were as follows:
| Position | Driver | Points | Winnings | Series |
|---|---|---|---|---|
| 1 | Ricky Rudd | 68.5 | $175,000 | NASCAR Winston Cup |
| 2 | Dale Earnhardt | 63 | $65,000 | NASCAR Winston Cup |
| 3 | Al Unser, Jr. | 59 | $55,000 | CART |
| 4 | Rusty Wallace | 47 | $50,000 | NASCAR Winston Cup |
| 5 | Harry Gant | 46.5 | $45,000 | NASCAR Winston Cup |
| 6 | Geoff Brabham | 46 | $40,000 | IMSA Camel GT |
| 7 | Davey Allison1 | 42 | $40,000 | NASCAR Winston Cup |
| 8 | Davy Jones | 33 | $40,000 | IMSA Camel GT |
| 9 | Scott Pruett2 | 27 | $40,000 | CART |
| 10 | Hurley Haywood2 | 27 | $40,000 | IMSA Camel GT |
| 11 | Pete Halsmer | 22 | $40,000 | IMSA Camel GT |
| 12 | Arie Luyendyk | 21 | $40,000 | CART |