The 1994 Goodwrench 500 was the second stock car race of the 1994 NASCAR Winston Cup Series season and the 29th iteration of the event.

North Carolina Speedway was opened as a flat, one-mile oval on October 31, 1965.

In 1969, the track was extensively reconfigured to a high-banked, D-shaped oval just over one mile in length.

For this specific race, positions 21-40 would be decided on time,[4] and depending on who needed it, a select amount of positions were given to cars who had not otherwise qualified but were high enough in owner's points; up to two provisionals were given.

Geoff Bodine, driving for his own Geoff Bodine Racing team, would win the pole, setting a time of 24.132 and an average speed of 151.716 miles per hour (244.163 km/h) in the first round.