Michael Schumacher won the Hungarian Grand Prix 1994 at Hungaroring on 14 August 1994, starting from pole position. Damon Hill finished second for Williams, with Jos Verstappen completing the podium for Benetton.
| Pos | Driver | Team | Q1 | Q2 | Q3 |
|---|---|---|---|---|---|
| 1 | Michael Schumacher | Benetton | 1:18.258 | - | - |
| 2 | Damon Hill | Williams | 1:18.824 | - | - |
| 3 | David Coulthard | Williams | 1:20.205 | - | - |
| 4 | Gerhard Berger | Ferrari | 1:20.219 | - | - |
| 5 | Ukyo Katayama | Tyrrell | 1:20.232 | - | - |
| 6 | Martin Brundle | McLaren | 1:20.629 | - | - |
| 7 | Eddie Irvine | Jordan | 1:20.698 | - | - |
| 8 | Heinz-Harald Frentzen | Sauber | 1:20.858 | - | - |
| 9 | Olivier Panis | Ligier | 1:20.929 | - | - |
| 10 | Rubens Barrichello | Jordan | 1:20.952 | - | - |
| 11 | Mark Blundell | Tyrrell | 1:20.984 | - | - |
| 12 | Jos Verstappen | Benetton | 1:21.141 | - | - |
| 13 | Jean Alesi | Ferrari | 1:21.206 | - | - |
| 14 | Philippe Alliot | McLaren | 1:21.498 | - | - |
| 15 | Pierluigi Martini | Minardi | 1:21.837 | - | - |
| 16 | Christian Fittipaldi | Footwork | 1:21.873 | - | - |
| 17 | Andrea de Cesaris | Sauber | 1:21.946 | - | - |
| 18 | Éric Bernard | Ligier | 1:22.038 | - | - |
| 19 | Gianni Morbidelli | Footwork | 1:22.311 | - | - |
| 20 | Michele Alboreto | Minardi | 1:22.379 | - | - |
| 21 | Érik Comas | Larrousse | 1:22.487 | - | - |
| 22 | Alessandro Zanardi | Team Lotus | 1:22.513 | - | - |
| 23 | David Brabham | Simtek | 1:22.614 | - | - |
| 24 | Johnny Herbert | Team Lotus | 1:22.705 | - | - |
| 25 | Olivier Beretta | Larrousse | 1:22.899 | - | - |
| 26 | Jean-Marc Gounon | Simtek | 1:24.191 | - | - |