Murray State defeated Austin Peay in the championship game, 92–84, to win their 7th OVC men's basketball tournament.
The Racers received an automatic bid to the 1995 NCAA tournament as the No. 15 seed in the Southeast region.
Format
Seven of the nine conference members participated in the tournament field. They were seeded based on regular season conference records, with the top seed (Tennessee State) receiving a bye to the semifinal round. The teams were re-seeded after the opening round. Southeast Missouri State and UT Martin did not participate.