The 1994–95 UEFA Champions League was the 40th edition of UEFA's premier European club football tournament, and the third since its rebranding as the UEFA Champions League. The tournament was won by Ajax of the Netherlands with a late goal in the final against defending champions AC Milan of Italy. Ajax won the competition without losing a game, either in the group or the knock-out stage, clinching the title for the first time since 1973.

Amsterdamsche Football Club Ajax, also known as AFC Ajax, Ajax Amsterdam, or commonly Ajax, is a Dutch professional football club based in Amsterdam, that plays in the Eredivisie, the top tier in Dutch football. Historically, Ajax is the most successful club in the Netherlands, with 36 Eredivisie titles and 20 KNVB Cups. It has continuously played in the Eredivisie since the league's inception in 1956, and along with Feyenoord and PSV Eindhoven, it is one of the country's "big three" clubs that have dominated that competition.