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The elections to the Austrian National Council taking place in fall of 1994 were the first to follow Austria's agreement to join the European Union (EU) and the EU referendum taking place in late spring of 1994.
The election resulted in losses to the coalition government headed by Franz Vranitzky between the SPÖ and the ÖVP (then lead by Erhard Busek), which lost its two-thirds majority that had allowed it to pass amendments to the constitution. The FPÖ made significant gains, as well as the Greens and the newly-established Liberal Forum, both of which solidified their position in parliament.
| Party | Seats (loss/gain) | Share of Vote (loss/gain) |
| SPÖ (Social Democratic Party of Austria) | 65 (-15) | 34.9 (-7.9) |
| ÖVP (Austrian People's Party) (conservative) | 52 (-8) | 27.7 (-4.4) |
| FPÖ (Freedom Party of Austria) (nationalist) | 42 (+9) | 22.5 (+5.9) |
| Green Party (ecologist) | 13 (+3) | 7.3 (+2.5) |
| LIF (Liberal Forum) (liberal) | 11 (new – split away from the FPÖ) | 6.0 (new) |
| Others | 0 (0) | 1.7 |
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