January 14 – U.S. President Bill Clinton and Russian President Boris Yeltsin sign the Kremlin Accords, which stop the preprogrammed aiming of nuclear missiles toward each country's targets, and also provide for the dismantling of the nuclear arsenal in Ukraine.
January 15 – The SS American Star breaks tow in the Atlantic Ocean and is beached at Fuerteventura in the Canary Islands a few days later.
January 17 – The 1994 Northridge earthquake, magnitude 6.7, hits the San Fernando Valley of Los Angeles at 4:31 a.m., killing 72 and leaving 26,029 homeless.
January 19 – Record cold temperatures hit the eastern United States. The coldest temperature ever measured in Indiana state history, −36°F (−38°C), is recorded in New Whiteland, Indiana.
January 20 – In South Carolina, Shannon Faulkner becomes the first female cadet to attend The Citadel, but soon drops out.
January 21 – Lorena Bobbitt is found not guilty by reason of insanity on charges of mutilating her husband John.
January 25 – U.S. President Bill Clinton delivers his first State of the Union address, calling for health care reform, a ban on assault weapons, and welfare reform.
January 26 – A man fires 2 blank shots at Charles, Prince of Wales in Sydney, Australia.
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