The 1994 Mello Yello 500 was the 28th stock car race of the 1994 NASCAR Winston Cup Series and the 35th iteration of the event.

The race was held on Sunday, October 9, 1994, in Concord, North Carolina, at Charlotte Motor Speedway, a 1.5 miles (2.4 km) permanent quad-oval.

The complex features a 1.5 mile (2.4 km) quad oval track that hosts NASCAR racing including the prestigious Coca-Cola 600 on Memorial Day weekend and the NEXTEL All-Star Challenge, as well as the UAW-GM Quality 500.

The speedway was built in 1959 by Bruton Smith and is considered the home track for NASCAR with many race teams located in the Charlotte area.

Ward Burton, driving for A.G. Dillard Motorsports, would win the pole, setting a time of 29.070 and an average speed of 185.759 miles per hour (298.950 km/h) in the first round.