The 1994 NBA draft took place on June 29, 1994, at Hoosier Dome in Indianapolis. Two NBA rookies of the year were picked in the first round, as Jason Kidd and Grant Hill were co-winners of the award for the 1994–95 NBA season. Kidd and Hill would end up as perennial All-Stars (10 and 7-time selections, respectively), though Hill's career was marred by severe injuries. The first overall pick Glenn Robinson was involved in a contract holdout shortly after being selected, reportedly seeking a 13-year, $100 million contract. Both Robinson and the Milwaukee Bucks eventually agreed on a 10-year, $68 million contract, which once stood as the richest contract ever signed by a rookie in professional sports. A fixed salary cap for rookies was implemented by the NBA the following season. Robinson himself had a productive NBA career, becoming a two-time NBA All-Star and winning an NBA Championship in 2005 in his final year with the San Antonio Spurs. This is the final draft to date to see all of the first three picks make All-Star rosters with the teams that originally drafted them.

Draft selections

Notable undrafted players

These players went undrafted in 1994 but played in the NBA.

Early entrants

College underclassmen

For the twelfth year in a row and the sixteenth time in seventeen years, no college underclassman would withdraw their entry into the NBA draft. However, it would be the eighth time in nine years that players that left college early to play professionally overseas would declare entry into the NBA draft as an underclassman of sorts, with the University of Kansas' Darrin Hancock playing for the Aix Maurienne Savoie Basket in France and the University of Alabama's Cedric Moore playing for the GSSV Donar out in The Netherlands. With their inclusions, the official number of underclassmen would increase from eighteen to twenty total players. Regardless, the following college basketball players successfully applied for early draft entrance.

Other eligible players