The 1994 King George VI and Queen Elizabeth Stakes was a horse race held at Ascot Racecourse on Saturday 23 July 1994. It was the 44th running of the King George VI and Queen Elizabeth Stakes. The winner was Sheikh Mohammed's King's Theatre, a three-year-old bay colt trained at Newmarket, Suffolk by Henry Cecil and ridden by Mick Kinane. Owner, trainer and jockey had previously won the race with Belmez in 1990. Henry Cecil had also won the race with Reference Point in 1987, whilst Sheikh Mohammed had won with the Michael Stoute-trained Opera House in 1993.