The 1994–95 Asian Club Championship was the 14th edition of the annual international club football competition held in the AFC region (Asia). It determined that year's club champion of association football in Asia.

Thai Farmers Bank FC from Thailand crowned Asian champion for the second consecutive year.

Team	Pld	W	D	L	GF	GA	GD	Pts	Qualification
FK Neftchy Farg'ona (H)	4	4	0	0	17	1	+16	12	Advance to First Round
Köpetdag Aşgabat	4	3	0	1	11	3	+8	9
Ansat Pavlodar	4	1	0	3	4	6	−2	3
Sitora Dushanbe	4	1	0	3	4	15	−11	3
Alga Bishkek	4	1	0	3	2	13	−11	3

Team	Pld	W	D	L	GF	GA	GD	Pts	Qualification
Mohun Bagan (H)	2	2	0	0	12	2	+10	6	Advance to First Round
Club Valencia	2	1	0	1	3	8	−5	3
Ratnam SC	2	0	0	2	2	7	−5	0

Pakistan did not send a team.

Team	Pld	W	D	L	GF	GA	GD	Pts	Qualification
Kota Ranger (H)	0	0	0	0	0	0	0	0[a]	Advance to First Round
Negro Rubro Macau	0	0	0	0	0	0	0	0[a]
Davao City	0	0	0	0	0	0	0	0[a]

All matches were played in Bandar Seri Begawan, Brunei, from 26 to 30 August 1994.

Team 1	Agg.Tooltip Aggregate score	Team 2	1st leg	2nd leg
Kazma SC	2–2 (a)	Al-Arabi	2–1	0–1
Saipa	bye
Mirbat	bye
West Riffa	bye
Al-Ansar	bye
Al-Wasl	bye
FK Neftchy Farg'ona	bye
Al-Shabab	bye

Note: the Jordanian FA did not send a team, while Al-Ahli withdrew before the draw.

Team 1	Agg.Tooltip Aggregate score	Team 2	1st leg	2nd leg
Ilhwa Chunma	10–4	Kedah FA	5–3	5–1
Kota Ranger	2–12	Eastern AA	1–6	1–6
Club Valencia	5–9	Bangkok Bank of Commerce	3–4	2–5
Thai Farmers Bank	bye
Mohun Bagan	bye
Verdy Kawasaki	bye
Pelita Jaya	bye
Liaoning FC	bye

Note: Bangkok Bank withdrew before the draw, while the Thai's FA send Bangkok Bank of Commerce as a representative.

Team 1	Agg.Tooltip Aggregate score	Team 2	1st leg	2nd leg
Al-Shabab	3–3 (4–5p)	Al-Ansar	3–0	0–3
Al-Arabi	9–4	Mirbat	5–0	4–4
Saipa	3–3 (a)	FK Neftchy Farg'ona	2–2	1–1
West Riffa	3–3 (3–4p)	Al-Wasl	2–1	1–2

Team 1	Agg.Tooltip Aggregate score	Team 2	1st leg	2nd leg
Thai Farmers Bank	7–0	Mohun Bagan	4–0	3–01
Eastern AA	4–6	Verdy Kawasaki	1–2	3–4
Pelita Jaya	1–5	Ilhwa Chunma	0–1	1–4
Liaoning FC	4–2	Bangkok Bank of Commerce	4–1	0–1

¹ The AFC ordered that the 2nd leg was to be played in Malaysia due to a plague pandemic in India, but Mohun Bagan objected to the ruling and refused to travel; they were ejected from the competition, fined $3000 and banned from AFC competitions for three years.

Team	Pld	W	D	L	GF	GA	GD	Pts	Qualification
FK Neftchy Farg'ona	3	1	1	1	6	4	+2	4	Advance to Semi-finals
Al-Arabi (H)	3	1	1	1	3	3	0	4
Al Wasl FC	3	1	1	1	4	6	−2	4
Al-Ansar	3	0	3	0	4	4	0	3

All matches were played in Doha, Qatar.

Team	Pld	W	D	L	GF	GA	GD	Pts	Qualification
Ilhwa Chunma (H)	3	3	0	0	7	2	+5	9	Advance to Semi-finals
Thai Farmers Bank FC	3	0	2	1	2	3	−1	2
Liaoning FC	3	0	2	1	3	5	−2	2
Verdy Kawasaki	3	0	2	1	1	3	−2	2

All matches were played at Changwon Sports Park in Changwon, South Korea.^[1]

	Semi-finals				Final
	27 January – Bangkok
	Ilhwa Chunma	0
					29 January – Bangkok
	Al-Arabi	2
					Al-Arabi	0
	27 January – Bangkok
					Thai Farmers Bank	1
	FK Neftchy Farg'ona	2 (2)
	Thai Farmers Bank (p)	2 (3)
					Third place play-off
					29 January – Bangkok
					Ilhwa Chunma	0
					FK Neftchy Farg'ona	1

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• Asian Club Competitions 1994/95 at RSSSF.com