Twenty Seven teams participated in the Ranji Trophy, 1994-95 and the teams came from all parts of India, after being selected by the organisers of the tournament, the BCCI. The teams were the regular participants of the tournament and they played against each other, being divided into five different zones, depending on their geographical positions. The zones were named as Central Zone, East Zone, North Zone, South Zone and West Zone. The participating teams in the zone included the likes of Assam, Baroda, Bengal, Bihar, Bombay, Delhi, Goa, Gujarat, Haryana, Himachal Pradesh, Hyderabad, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Orissa, Punjab, Railways, Rajasthan, Saurashtra, Services, Tamil Nadu, Tripura, Uttar Pradesh and the Vidarbha.

Ranji Trophy, 1994-95, Central Zone League Matches: The Central Zone of the Ranji Trophy, 1994-95 saw the participation of 5 teams, all the regular ones, mainly coming from the Central region of India. The teams included the likes of Madhya Pradesh, Rajasthan, Uttar Pradesh, Railways and Vidarbha and they played against each other for claiming the top spot in the zone. The teams also tried their best for securing a birth in the knock out level of the tournament. The zone saw the teams of Madhya Pradesh, Uttar Pradesh and Rajasthan teams advancing to the knock out level, as they earned 15, 13 and 8 points, respectively from the zonal level league matches.

Ranji Trophy, 1994-95, East Zone League Matches: 5 teams played against each other under the East Zone in the Ranji Trophy, 1994-95; all representing different states from the Eastern region of India. The tournament earned popularity and honour for being the premium domestic cricket tournament in India and all the East Zone teams were the regular participants of the tournament. The teams included the likes of Bihar, Tripura, Orissa, Assam and Bengal and the teams played against each other for claiming one of the top three spots in the zone. The main reason behind the teams` this endeavour was to secure a birth in the knock out level of the tournament. The teams like Bengal, Bihar and Assam eventually became successful to get into the knock out level from the East Zone, as they earned the highest points in the zone. The Bengal team earned total of 20 points, Bihar earned 12 points and the Assam team also earned 10 points, at the end of the zonal level league matches.

Ranji Trophy, 1994-95, North Zone League Matches: The North Zone of the Ranji Trophy, 1994-95 saw the participation of all the 6 regular teams that had been playing in the tournament for the past editions. The teams were mainly representing various states from the Northern region of India in the coveted and most popular domestic cricket tournament in India. The teams like Delhi, Himachal Pradesh, Haryana, Jammu & Kashmir, Punjab and Services played against each other in the zonal level league matches in the North Zone. The main objective of all the teams was to secure a birth in the knock out level of the tournament. However, only the teams like Delhi, Haryana and Punjab eventually could do so from the zone, as they earned total of 18, 14 and 12 points, respectively from the zonal level league matches.

Ranji Trophy, 1994-95, South Zone League Matches: The South Zone of the Ranji Trophy, 1994-95 was comprised of 6 teams, all the regular participants of the tournament, coming from the Southern region of India. The tournament is considered to be the most popular and fruitful domestic cricket tournament in India and the teams that played under the South Zone included the likes of Hyderabad, Kerala, Tamil Nadu, Goa, Karnataka and Andhra. All the teams tried their best to become one of the top three teams in the zone so that they could get a chance for competing in the knock out level of the tournament. However, only the teams like Karnataka, Kerala and Tamil Nadu eventually became successful to do so from the zone, as they earned total of 24, 16 and 12 points, respectively from the zone. The three teams went on to compete with the top teams from the other zones in the knock out level of the tournament, for winning the coveted championship title.

Ranji Trophy, 1994-95, West Zone League Matches: All the five teams that had been participating under the West Zone in the tournament took part in the Ranji Trophy, 1994-95 also and the teams were mainly coming from the Western region of India. The Ranji Trophy is considered to be the most popular and premium domestic cricket tournament in India and the West Zone teams in the tournament included the likes of Bombay, Gujarat, Saurashtra, Baroda and Maharashtra. All the teams gave their best efforts for becoming one of the top three teams in the zone, with a view to enter into the knock out level of the tournament. The zone saw the teams like Bombay, Maharashtra and Saurashtra eventually becoming successful to enter the knock out level. The Bombay team earned total of 20 points, Maharashtra earned 10 points and Saurashtra earned a total of 8 points, at the end of the zonal level league matches.

Ranji Trophy, 1994-95, Knock out Matches: 15 teams entered into the knock out level of the Ranji Trophy, 1994-95, once the zonal level league matches were finished. The teams were mainly included the top three teams from each and every zone of the tournament. The teams that competed with each other in the knock out matches of the Ranji Trophy, 1994-95 included the likes of Delhi, Bengal, Punjab, Karnataka, Saurashtra, Bihar, Tamil Nadu, Haryana, Uttar Pradesh, Kerala, Madhya Pradesh, Maharashtra, Rajasthan, Assam and Bombay. The teams played against each other in the Pre-Quarter-Finals, Quarter-Finals, Semi-Finals and Final match of the tournament. However, it was the Bombay team that eventually won the championship title, once again.