The 1994 Virginia Slims Championships were played on indoor carpet courts at the Madison Square Garden in New York City, United States between November 14 and November 20. It marked the last singles tournament for Czech player Martina Navratilova until her comeback in 2002. The singles title was won by unseeded Gabriela Sabatini and earned $250,000 first-prize money. This was the final year with Virginia Slims as the title sponsor of the season-ending championships.
See main article: 1994 Virginia Slims Championships – Singles. 
Gabriela Sabatini defeated 
Lindsay Davenport, 6–3, 6–2, 6–4
See main article: 1994 Virginia Slims Championships – Doubles. Gigi Fernández / 
Natasha Zvereva defeated 
Jana Novotná / 
Arantxa Sánchez Vicario, 6–3, 6–7(4–7), 6–3