The 1994 NCAA Division I men's basketball tournament involved 64 schools in single-elimination play to determine the national champion of men's NCAA Division I college basketball.

The following are the sites that were selected to host each round of the 1994 tournament: First and Second Rounds Regional semifinals and finals (Sweet Sixteen and Elite Eight) National semifinals and championship (Final Four and championship) There were 30 automatic bids awarded to the tournament - of these, 27 were given to the winners of their conference's tournament, while three were awarded to the team with the best regular-season record in their conference (Big Ten, Ivy League and Pac-10).

Four conference champions made their first NCAA tournament appearances: Liberty (Big South), Loyola (MD) (MAAC), Southwest Texas State (Southland), and UCF (TAAC).

Additionally, College of Charleston received an at-large bid for its first appearance in the NCAA tournament.

Minnesota vacated its NCAA Tournament appearance from the 1993–94 season due to an academic fraud scandal.