The 1991–92 Courage League National Division Two was the fifth full season of rugby union within the second tier of the English league system, currently known as the RFU Championship.
There was a total of thirteen teams in the division, with each team meeting the other teams once to give total of twelve matches each. Joining the nine teams who remained in the division from last season were Moseley and Liverpool St Helens, who finished 12th and 13th respectively in Courage League Division One the previous year. It was Moseley's first season in the second tier while Liverpool St Helen's continued their "yo–yoing" between the top two division, having been promoted twice and relegated twice in the first four seasons. Last season's Division Three champions West Hartlepool and runner–up Morley both played in Division Two for the first time. Blackheath and Newcastle Gosforth are the only teams to have played every season in the second division.