In January 1994, Bonaly placed first in all segments on her way to her fourth consecutive continental title at the Europeans Championships in Copenhagen, Denmark. The other medalists were Baiul and Russia's Olga Markova. A month later, she competed at the 1994 Winter Olympics in Lillehammer, Norway. Ranked third in the short program and fourth in the free skate, she finished fourth overall behind Baiul, Nancy Kerrigan, and Chen Lu.