Señorita Panamá 1994 was the 12th edition of the pageant, held at the Atlapa Convention Centre in Panama City on September 3, 1994. Sixteen contestants from across Panama competed. The event was broadcast on September 12 by RPC Televisión. At the end of the night, outgoing titleholder Maria Sofia Velazquez crowned Michelle Sage Navarrete as Señorita Panamá 1994.