Arkansas Highway 292 is an east–west state highway in Johnson County. The route runs 3.87 miles (6.23 km) from Arkansas Highway 21 east to Highway 123/Highway 164 near Hagarville. The route does not concur with any other state highways.

The route begins at Highway 21 north of Clarksville at Ludwig and runs due east. After 1 mile (1.6 km), the highway intersects Highway 818 and continues east before ending at Highway 123/Highway 164 near Hagarville.

The entire route is in Johnson County.