| Game Name: | Liberty Bowl |
| Subheader: | 34th Liberty Bowl |
| Date Game Played: | December 31 |
| Year Game Played: | 1992 |
| Football Season: | 1992 |
| Visitor Name Short: | Air Force |
| Visitor Nickname: | Falcons |
| Visitor Record: | 7–4 |
| Visitor 1Q: | 0 |
| Visitor 2Q: | 0 |
| Visitor 3Q: | 0 |
| Visitor 4Q: | 0 |
| Home Name Short: | Ole Miss |
| Home Nickname: | Rebels |
| Home Record: | 8–3 |
| Home 1Q: | 7 |
| Home 2Q: | 3 |
| Home 3Q: | 0 |
| Home 4Q: | 3 |
| Mvp: | Cassius Ware (LB, Ole Miss) |
| Home Rank Coaches: | 19 |
| Home Rank Ap: | 20 |
| Home Rank Bowlcoalition: | 19 |
| Us Network: | ESPN |
| Type: | bg |
| Attendance: | 32,107 |
The 1992 Liberty Bowl was a college football postseason bowl game played on December 31, 1992, in Memphis, Tennessee. The 34th edition of the Liberty Bowl featured the Air Force Falcons and the Ole Miss Rebels.
Air Force tied for fourth place in the Western Athletic Conference (WAC) while Ole Miss finished in second place in the West Division of the Southeastern Conference (SEC). This was Air Force's fourth consecutive Liberty Bowl (due to the policy of the winner of Commander in Chief's Trophy having a bid into the game), and Ole Miss' first bowl game since 1991. This was the third time the two teams faced each other in a 10-year span.
Dou Innocent gave the Rebels a 7–0 lead with 2:42 left in the first quarter. He finished the day with 65 yards on 17 carries. Brian Lee kicked two field goals from 24 and 29 yards out to make the final score 13–0 as Air Force was held to 185 yards of total offense. Russ Shows went 9-of-19 for 163 yards. Cassius Ware had 10 tackles and 2 sacks, in an MVP effort.[1]
| Statistics | Air Force | Ole Miss |
|---|---|---|
| First downs | 14 | 13 |
| Rushing yards | 104 | 168 |
| Passing yards | 81 | 163 |
| Total yards | 185 | 331 |
| Passing C-A-I | 10–17–2 | 9–19–0 |
| Punts–average | 7–33.0 | 5–20.2 |
| Fumbles–lost | 2–1 | 2–1 |
| Penalties–yards | 6–53 | 7–57 |
Neither team has returned to the Liberty Bowl since this game.