The 1994 Melbourne Cup was a two-mile handicap horse race which took place on Tuesday, 1 November 1994. The race was run over , at Flemington Racecourse.
The race was won by the British horse, Jeune. His victory followed that of the Irish horse, Vintage Crop in the 1993 Melbourne Cup. Jeune at 16/1 defeated Paris Lane with the outsiders Oompala and Double Take making up the first four finishers. The previous year's winner and 5/1 favourite, Vintage Crop, was seventh.
At the presentation the winning jockey Wayne Harris dedicated the win to a 12-year-old boy from Victoria, Andrew Read who was suffering from a brain tumour. Read's mother had previously written to Harris who had battled with the same illness 11 years earlier.
This is a list of horses which ran in the 1994 Melbourne Cup.