The 1994 Australian Grand Prix was a Formula One motor race held on 13 November 1994 at the Adelaide Street Circuit. It was the sixteenth and final race of the 1994 Formula One World Championship. The race was won by Nigel Mansell driving for the Williams team after starting from pole position. Gerhard Berger finished second in a Ferrari car with Martin Brundle third for the McLaren team.

The race is remembered, besides being the closing of one of the most tragic seasons in the history of the category, also for an incident involving the two title contenders Damon Hill and Michael Schumacher which forced both to retire and resulted in Schumacher winning the World Drivers' Championship. Also notable was the last appearance in a Formula One Grand Prix of the first incarnation of Team Lotus, previously seven-time Constructors' Champions. It was also the 31st and last Grand Prix victory of Nigel Mansell's Formula One career, as well as his last podium finish in his last race for Williams.