The 1994–1995 Úrvalsdeild kvenna was the 38th season of the Úrvalsdeild kvenna, then known as 1. deild kvenna, the top tier women's basketball league in Iceland. The season started on 1 October 1994 and ended on 2 April 1995. Breiðablik won its first title by defeating Keflavík 3–0 in the Finals.