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The regular season initially saw the 12 teams use a traditional round-robin format with each team playing 22 games on a home and away basis. The division was then split into two groups, a top six and a bottom six. After the split, the six teams played the other teams in their group in a second series of 10 games again using a round-robin format. On the last day of the regular season, Bohemians only needed to draw away to Dundalk to secure the title as they had a two-point advantage over both Shelbourne and Cork City. However Bohemians lost 1–0. Earlier in the day Shelbourne had defeated Derry City 1–0 with a goal in the last minute by Paul Doolin and Cork City beat Limerick 3–0. As a result, all three teams finished level on 40 points. Bohemians actually finished the season with the best goal difference, but at the time League of Ireland rules stated that the title could not be won on goal difference and a play-off would be required.
In the round-robin three way play-off, Cork City beat Bohemians at home, Bohemians beat Shelbourne at home and Shelbourne beat Cork City at home. The return fixtures were all drawn. Once again all three teams finished level on points and a second series of play-offs would be required.
The second series of play-offs saw the three teams playing each other once at neutral venues. During the break between the first and second series of play-offs, Shelbourne won the 1992–93 FAI Cup final and as a result qualified for 1993–94 European Cup Winners' Cup. Cork City clinched the title after defeating Shelbourne 3–2 in the deciding game at the RDS Arena.