The 1994–95 Asian Cup Winners' Cup was the fifth edition of association football competition run by the Asian Football Confederation specifically for its members cup holders.

Pakistan representatives withdrew 1 Al Tilal withdrew 2 Jonoob Ahvaz also listed as Abva Khak Djonoob and Navard Loleh, both referring to sponsor names 1 East Bengal withdrew after 1st leg 2 Sri Lanka representatives also listed as Ratnam SC 1 Al Qadisiya withdrew after 1st leg 1 Gelora Dewata disqualified due to fielding two ineligible players 2 apparently East Bengal withdrew