The 1992 Montana gubernatorial election took place on November 3, 1992. Incumbent Governor of MontanaStan Stephens, who was first elected in 1988, declined to seek re-election. Marc Racicot, the Attorney General of Montana, won the Republican primary and advanced to the general election, where he faced State RepresentativeDorothy Bradley, who had emerged from a crowded Democratic primary as the nominee of her party. A close election ensued, but in the end, Racicot ended up defeating Bradley to win his first of two terms as governor.