Elections to the Australian Capital Territory Legislative Assembly were held on Saturday, 18 February 1995. The incumbent Labor Party, led by Rosemary Follett, was challenged by the Liberal Party, led by Kate Carnell. For the first time, candidates were elected to fill three multi-member electorates using a single transferable vote method, known as the Hare-Clark system. The result was another hung parliament. However the Liberals, with the largest representation in the 17-member unicameral Assembly, formed Government with the support of Michael Moore and Paul Osborne. Carnell was elected Chief Minister at the first sitting of the third Assembly on 9 March 1995.

Anne Katherine Carnell is an Australian businesswoman and former Liberal Party politician, who served as the third Chief Minister of the Australian Capital Territory (ACT) from 1995 to 2000.