As in the Albertville Olympics two months earlier, the 1992 World Championship in Czechoslovakia introduced a one-game elimination playoff system. After a preliminary round involving two groups of six teams, the top four teams from each group advanced to the playoffs.
Sweden won its second consecutive gold medal at the 1992 World Championship in Czechoslovakia, but the tournament lacked much of the excitement created by the Olympic tournament. The Swedes defeated Finland 5-2 in the gold medal game, after the Finns had upset host Czechoslovakia in a shoot-out in the semifinals. Czechoslovakia defeated Switzerland 5-2 to win the bronze medal. This marked the first time any team other than the Soviet Union had won back-to-back world titles since Czechoslovakia in 1976 and 1977.
Russia and Canada seemed disinterested after the superb gold medal final they had staged at Meribel, where the former, playing under the banner of the Unified Team, came out on top 3-1. Hockey's historic hockey powers were both knocked out in the quarterfinals. Meanwhile, Switzerland sparkled by making it to the semifinals before losing to Sweden.
Sweden's Mats Sundin was named the best forward, Robert Svehla of Czechoslovakia the best defenceman and Tommy Soderstrom of Sweden the best goaltender.