Joe Eszterhas wrote the screenplay in just 13 days in the 1980s, sparking a bidding war that Carolco Pictures won for $3 million.

After clashes with Verhoeven over script changes, including a lesbian sex scene Eszterhas deemed exploitative, Eszterhas and producer Irwin Winkler left the production; Gary Goldman rewrote the script four times before it returned to Eszterhas' original vision by the fifth draft, giving Eszterhas sole writing credit.

Before Sharon Stone was cast, the role of Catherine Tramell was turned down by numerous actresses including Kim Basinger, Julia Roberts, Greta Scacchi, Meg Ryan, Debra Winger, Michelle Pfeiffer, Geena Davis, Kathleen Turner, Kelly Lynch, Ellen Barkin, Mariel Hemingway and Demi Moore was also considered.

Sharon Stone's manager had to break into the studio's office locker to obtain the script for her since the studio initially refused to send it.

Michael Douglas initially refused to do a screen test with Stone, but after 12 other actresses turned down the role, he agreed; Stone was ultimately paid $500,000 for her role compared to Douglas's $14 million.

The film marked the last screen appearance of actress Dorothy Malone.

Michael Douglas personally drove up the steps of Kearny Street in San Francisco for four nights in preparation for the car chase scene.

Catherine Tramell's home was shot at a mansion near Carmel-by-the-Sea, about 120 miles south of San Francisco, though the story places it in Stinson Beach; the property was later owned by adventurer Steve Fossett and sold for tens of millions of dollars decades later.

Filming resumed in San Francisco in April 1991 amid intense protests from gay and lesbian rights activists, with riot police present at every location; producer Alan Marshall even ordered citizen's arrests of protesters, though no action was taken by police.

Six protesters disrupted a Saturday Night Live taping on April 11, 1992 while Sharon Stone was hosting, rushing the stage before being arrested; the broadcast's repeat aired dress rehearsal footage instead.

Sharon Stone has repeatedly stated that the famous leg-crossing scene exposing her was filmed without her full knowledge, as Verhoeven had asked her to remove her white underwear claiming it reflected light, assuring her only a shadow would show; she said she slapped Verhoeven after seeing the finished scene with a test audience.

During the 2012 murder trial of Luka Magnotta, prosecutors noted he had painted a screwdriver silver to resemble the ice pick from the film and used aliases referencing Catherine Tramell and her fictional fiancé.

To secure an R rating instead of the initially assigned NC-17, Verhoeven cut 35 to 40 seconds of graphic violence and sexual content, later restored in the director's cut released on home video.