The year 1492 marked a significant milestone in world history, with the beginning of the discovery of the "New World" of the Americas, and the "Old World" in Europe, as well as the unification of Spain, the end of Islamic rule in Western Europe, and the expulsion of the Jewish people from Spain.
May 23– At the shipbuilding town of Palos de la Frontera in Spain, an April 30 decree of Queen Isabella of Castile and King Ferdinand of Aragon is read aloud to the residents, directing that two ships are to be delivered to Christopher Columbus and people chosen by the Pinzon brothers will be required to travel on the voyage westward "by command of Their Highnesses").
May 31– Pope Innocent VIII and members of the College of Cardinals meet at the church of Santa Maria del Popolo in Rome with diplomatic envoys sent by the Ottoman Sultan Bayezid II. The envoys present the Pope a gift, said to be the Holy Lance, from the Sultan, along with the Sultan's proposal, payment of 120,000 crowns of gold and an annual subsidy of 45,000 ducats in return for the continued imprisonment of Cem Sultan, a half-brother of Bayezid and a rival claimant to the throne.
August 8– The papal conclave, the first to be held in the Sistine Chapel, begins balloting with 23 of the 27 members of the College of Cardinals in attendance. With 16 votes needed for the required two-thirds majority, the first ballot is split among three candidates, with Oliviero Carafa receiving 9, Rodrigo Borja 7 and Giuliano della Rovere 5, while two cast a blank vote.
August 11– Cardinal Rodrigo Borja is unanimously elected on the fourth ballot of the papal conclave, and takes the name of Pope Alexander VI, 214th pope of the Roman Catholic Church.
October 7– The Columbus expedition, having seen no land for 29 days while sailing westward, and with some of its sailors threatening to mutiny, spots large flocks of birds, confirming that land is ahead. Christopher Columbus orders a change of course to follow the flight direction of the birds.
October 10– The day before sighting land for the first time in a month, Columbus quells an attempt at mutiny by sailors who demand that he turn the Niña around to sail back to Spain.
October 12– Believing he has reached the East Indies, Christopher Columbus and his expedition of three ships make landfall in the Caribbean and land on the island of Guanahani, now part of the Bahamas. He names the island "San Salvador". Earlier in the day, sailor Rodrigo de Triana on the Pinta had become the first person to spot land. Because of his belief that he is in the East Indies, Columbus refers to the natives as "indios".
November 3– The Peace of Étaples is signed between England and France, ending French support for Perkin Warbeck, the pretender to the English throne. All English-held territory in France (with the exception of Calais) is returned to France.
November 10– The Catholic Monarchs of Spain issue an Ordinance legalizing the return of Sephardi Jews who had been expelled in August and the terms for remaining. In both cases, all need a baptism as Christian converts in the Roman Catholic church.
December 5– Christopher Columbus becomes the first European to set foot on the island of Hispaniola in present day northwestern Haiti.
December 25– Columbus' ship Santa María runs aground off Cap-Haïtien in present day Haiti, and is abandoned. The local chief, Guacanagaríx, allows 39 men of Columbus' crew to remain on the island after his departure.
Unknown dates
Martin Behaim constructs the first surviving globe of Earth, the Erdapfel. As Columbus would only return from his voyage in 1493, this globe does not show the New World yet.