The 1994 California State Treasurer election occurred on November 8, 1994. The primary elections took place on March 8, 1994. The Republican nominee, Board of Equalization Chairman Matt Fong, narrowly defeated the Democratic nominee, Phil Angelides, for the office previously held by incumbent Kathleen Brown, who chose not to seek re-election in favor of running for governor. As of 2021, this is the last time a Republican was elected California state treasurer.