- May 11 – Introduction of trade magazine GameWeek (then called Video Game Advisor)
- May 11–16 — The 1st annual Electronic Entertainment Expo (E3) is held in Los Angeles, California.
- November 5 — GameFAQs debuts on the web, as an archive of video game FAQs.
- Bungie releases Marathon 2: Durandal.
- Super Mario World 2: Yoshi's Island is released, commemorating the 10th anniversary of the Mario series.
- November 11; Mindscape releases Warhammer: Shadow of the Horned Rat, the first game of the real-time tactics genre and the first fully 3D real-time strategy/wargame.
- September — Westwood Studios releases Command & Conquer, which becomes one of the first popular real-time strategy games and spawns a franchise.
- SquareSoft releases Chrono Trigger for SNES on March 11 in Japan and August 22 in North America, which was their largest game for the system at 32 megabits, and included multiple ways to finish the game.
- Sega releases Phantasy Star IV: The End of the Millennium in February in North America, and December in Europe, marking the end of the original series.
- Jagged Alliance (Sir-Tech, DOS), the first in a series of turn-based strategy games
- Star Wars: Dark Forces (LucasArts, DOS), the first in a series of Star Wars-based first-person shooters that would take off with Star Wars Jedi Knight: Dark Forces II (1997)
- Descent (Parallax Software, DOS), popularized the use of portal rendering technology and provided the player with six full degrees of freedom.
- Flight Unlimited (Looking Glass Studios, DOS/Windows 95), possibly the first home flight simulator to use fluid dynamic physics.
- EarthBound (Nintendo, Ape, Inc.) is released for the SNES in the US, garnering a cult following.
- Powerhouse is published by Impressions Games, now part of Vivendi.
- New World Computing releases Heroes of Might and Magic: A Strategic Quest, which becomes the first game in the popular Heroes of Might and Magic turn-based strategy game franchise.
- Destruction Derby
- Softstar releases The Legend of Sword and Fairy (仙劍奇俠傳) in July.
- Sierra Online releases Phantasmagoria, a controversial game that strays from Sierra's typically family-oriented adventures to engross the player in a dramatic horror-themed interactive movie.
- Origin Systems launches Crusader: No Remorse, an innovative action title featuring an isometric 3rd-person view of a futuristic soldier out for revenge. Origin also releases Wing Commander IV: The Price of Freedom, likely to be the most ambitious computer game of the time, with a $12 million USD budget for its interactive-movie/space simulation content.
- Blizzard releases Warcraft II: Tides of Darkness, sequel to their initial real-time strategy title, and a far more refined and popular title.
- Cyberdreams release I Have No Mouth, and I Must Scream, an adaptation of writer Harlan Ellison's short story that won Computer Gaming World's award for "Best Graphic Adventure Game" of the year.
- On December 5, Rareware and Nintendo releases Donkey Kong Country 2: Diddy's Kong Quest the sequel to the hugely popular Donkey Kong Country for the Super Nintendo Entertainment System.
- LucasArts releases the adventure game Full Throttle.
- Eidos Interactive release Championship Manager 2. CM2 was quite a leap forward, in terms of graphics, from its previous versions.
- Namco releases Time Crisis
- Nintendo releases:
- the Game Boy Play It Loud series, color/clear versions of the Game Boy
- Virtual Boy (by Gunpei Yokoi) 32-bit console
- Satellaview BS-X accessory for the Famicom console in Japan only
- Sega releases:
- May — Sega Saturn home console in North America (released in Japan on November 22, 1994).
- Sega 32X add-on for the Sega Mega Drive in Europe
- September 9 — Sony releases the PlayStation console in the United States.
- September 29 — Sony releases the PlayStation console in Europe.
- September 23 nowco releases the joygame console in the United States
- The NES is no longer made in USA.
- Frog City Software, Inc. established
- Mark Jacobs and Rob Denton establish Interworld Productions, which is renamed Mythic Entertainment in 1997.
- Norm Koger founds TalonSoft.
- Ray Muzyka, Greg Zeschuk, and Augustine Yip establish BioWare in Edmonton, Alberta.
- Cyberdreams goes out of business.
- Video games sold 10.3 million units this year in the United Kingdom.
- Nintendo v. Samsung Electronics; Nintendo sues Samsung for promoting software piracy. The suit is settled.
- Nintendo of America, Inc. v. NTDEC