September 2, 1994 marked the opening of the national Corvette Museum. Two new colors were introduced this year, Copper Metallic and Admiral Blue. The Copper Metallic was limited due to quality concerns and only 116 were produced. This was the last year for Black Rose Metallic. The engine remained at 300 horsepower although the addition of a sequential fuel injection system improved idle, driveability and emmisions by firing the injectors in sequence with the firing order. The standard 4-speed automatic transmission was updated to include electronic controls to improve shift quality and consistency. A lock-out on the new automatic prevented moving the selected to drive until the brake pedal was depressed. All seating in 1994 is leather, cloth is no longer an option. The rear window in the convertible was changed from plastic to glass this year and includes an in-glass defroster element. The air conditioning system this year uses R-134A refrigerant, which is much more environmentally friendly. The instruments had new white instrument graphics which turned to a tangerine color at night.

Total 1994 Coupes - 17,984
Total 1994 Convertibles - 5,346
Total 1994 ZR-1s - 448

The "Vehicle Identification Number" (also VIN or serial number) is stamped on a plate on the inner vertical surface of the left windshield pillar visible through the windshield.

1991 Corvette engines have the last six digits of the VIN stamped on the block after the engine number. The date code the engine was manufactured was also cast into the block. The engine serial number includes a production sequence number starting with 0001001 and one of the suffixes below.

Interior options for exterior colors are suggested by Chevrolet. Other combinations could be ordered.