The 1994 New Mexico gubernatorial election was held on November 8, 1994, for the four-year term beginning on January 1, 1995. Candidates for governor and lieutenant governor ran on a ticket as running mates. Incumbent Democrat Bruce King ran for a fourth term with Patricia Madrid as a running mate, losing to Republican nominees Gary Johnson, a businessman, and Walter Bradley, a former state senator. Former Lieutenant Governor Roberto Mondragón ran with Steven Schmidt as the nominees of the Green Party, receiving 10.4 percent of the vote.