The 1994 NCAA Division I-AA football season, part of college football in the United States organized by the National Collegiate Athletic Association at the Division I-AA level, began in August 1994, and concluded with the 1994 NCAA Division I-AA Football Championship Game on December 17, 1994, at Marshall University Stadium in Huntington, West Virginia.

The defending champion Youngstown State Penguins won their third I-AA championship, defeating the Boise State Broncos by a score of 28−14.

[1] It was the fourth consecutive year that Youngstown State played in the I-AA title game.

American West Conference – Cal Poly Big Sky Conference – Boise State Gateway Football Conference – Northern Iowa Ivy League – Penn Metro Atlantic Athletic Conference – Marist and St. John's Mid-Eastern Athletic Conference – South Carolina State Ohio Valley Conference – Eastern Kentucky Patriot League – Lafayette Pioneer Football League – Butler and Dayton Southern Conference – Marshall Southland Conference – North Texas Southwestern Athletic Conference – Alcorn State and Grambling State Yankee Conference – New Hampshire Only the top four teams in the bracket were seeded.

[2] The site of the title game, Marshall University Stadium, had been determined in March 1994.