Players Jimmy Quinn, Mick Gooding, Ady Williams and Jeff Hopkins acted as caretakers until January, when Quinn and Gooding were named as full-time player-managers.

After beating Tranmere Rovers 3–1 on aggregate (3–1 and 0–0 over two legs) they travelled to Wembley to face Bolton Wanderers.

Although player-manager Quinn, on as a second-half substitute, pulled one back in the 119th minute, Bolton held on to win and sealed promotion to the Premier League at Reading's expense.

Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.

Reading's kit for the 1994–95 was manufactured by Pelada, and the main sponsor was Auto Trader.