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The 1994 Alaska gubernatorial election took place on November 8, 1994 for the post of Governor of Alaska, United States. Democratic candidate Tony Knowles narrowly defeated Republican candidate Jim Campbell and Lieutenant Governor Jack Coghill of the Alaskan Independence Party. In the Republican Revolution year of the 1994 elections, Alaska's was the only governor's seat in the country to switch from Republican to Democratic.
Incumbent Governor Walter Joseph Hickel had been elected as the candidate of the Alaskan Independence Party in the 1990 gubernatorial election. In April 1994 he rejoined the Republican Party and announced in August that he would not stand for re-election.
In the Democratic primary, the Democratic candidate from 1990 and former mayor of Anchorage, Tony Knowles, won with 43% of the vote. He defeated former Lieutenant Governor Stephen McAlpine with 31% and former Speaker of the Alaskan House of Representatives Sam Cotten with 25%.