The measurement of $K^{*}(892)^0$ resonance production via its $K^{+}\pi^{-}$ decay mode in inelastic p+p collisions at beam momentum 158 GeV/$c$ ($\sqrt{s_{NN}}=17.3$ GeV) is presented. The data were recorded by the NA61/SHINE hadron spectrometer at the CERN Super Proton Synchrotron. The $\textit{template}$ method was used to extract the $K^{*}(892)^0$ signal and double differential transverse momentum and rapidity spectra were obtained. The full phase-space mean multiplicity of $K^{*}(892)^0$ mesons was found to be $(78.44 \pm 0.38 \mathrm{(stat)} \pm 6.0 \mathrm{(sys)) \cdot 10^{-3}}$. The NA61/SHINE results are compared with the E$_{POS}$1.99 and Hadron Resonance Gas models as well as with world data from p+p and nucleus-nucleus collisions.