A soybean variety designated 92B38, the plants and seeds of soybean variety 92B38, methods for producing a soybean plant produced by crossing the variety 92B38 with itself or with another soybean plant, and hybrid soybean seeds and plants produced by crossing the variety 92B38 with another soybean line or plant, and the creation of variants by mutagenesis or transformation of variety 92B38. This invention also relates to methods for producing other soybean varieties or breeding lines derived from soybean variety 92B38 and to soybean varieties or breeding lines produced by those methods.