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Date: 17 February 1994
| Rank | Name | Nation | Time |
| 1 | Svetlana Bazhanova | RUS | 4:17.43 |
| 2 | Emese Hunyady | AUT | 4:18.14 |
| 3 | Claudia Pechstein | GER | 4:18.34 |
| 4 | Lyudmila Prokasheva | KAZ | 4:19.33 |
| 5 | Annamarie Thomas | NED | 4:19.82 |
| 6 | Seiko Hashimoto | JPN | 4:21.07 |
| 7 | Hiromi Yamamoto | JPN | 4:22.37 |
| 8 | Mihaela Dascălu | ROU | 4:22.42 |
| 9 | Carla Zijlstra | NED | 4:23.42 |
| 10 | Miki Ogasawara | JPN | 4:25.27 |
| 11 | Tonny de Jong | NED | 4:25.88 |
| 12 | Tatyana Trapeznikova | RUS | 4:27.82 |
| 13 | Emese Antal | AUT | 4:27.91 |
| 14 | Ingrid Liepa | CAN | 4:28.28 |
| 15 | Heike Warnicke | GER | 4:28.43 |
| 16 | Ewa Wasilewska | POL | 4:28.86 |
| 17 | Cerasela Hordobeţiu | ROU | 4:29.31 |
| 18 | Elisabetta Pizio | ITA | 4:32.34 |
| 19 | Angela Zuckerman | USA | 4:33.08 |
| 20 | Jasmin Krohn | SWE | 4:33.34 |
| 21 | Chris Scheels | USA | 4:34.14 |
| 22 | Chantal Bailey | USA | 4:34.64 |
| 23 | Baeg Eun-Bi | KOR | 4:34.86 |
| 24 | Kenzhesh Sarsekenova | KAZ | 4:45.56 |
| 25 | Ilonda Lūse | LAT | 4:47.75 |
| Disqualified | |||
| Gunda Niemann | GER | ||
| Elena Belci | ITA | ||