Arkansas Highway 392 (also called AR 392 and Hwy. 392) is a 10.44-mile (16.80 km) state highway in the Ozark Mountains in northern Arkansas, USA. The highway runs from U.S. Highway 62 and U.S. Highway 412 in Little Arkansaw east to Arkansas Highway 7 in Harrison. The route is located entirely in Boone County, and also serves the communities of Batavia and Capps. AR 392 is maintained by the Arkansas State Highway and Transportation Department.

AR 392 begins at an intersection with US 62 and US 412 in Little Arkansaw, 3.2 miles (5.1 km) east of Alpena. From here the route heads south, leaving Little Arkansaw and heading through a rural area. The highway turns southeast to pass through Batavia; past the community, it briefly heads south before turning eastward. After passing through Capps, the road crosses the Dry Jordan Creek before meeting northbound AR 397. The two highways are briefly concurrent before AR 397 turns south; AR 392 continues eastward toward Harrison as Capps Road. In Harrison, the route enters a residential area before curving southeast toward Stephenson Avenue. It follows Stephenson Avenue east for two blocks before turning south into a business district on Pine Street. After following Pine Street for a block, the route terminates at AR 7.

AR 397 entered the state highway system in 1991, replacing a segment of AR 206. The route has not changed since its establishment.

The entire route is in Boone County.