The 1994–95 season was Colchester United's 53rd season in their history and their third consecutive season in the fourth tier of English football, the Third Division. Alongside competing in the Third Division, the club also participated in the FA Cup, the League Cup and the Football League Trophy. Colchester reached the third round of the FA Cup, where they faced Premier League opposition in Wimbledon. They lost that game 1–0 at Selhurst Park. Meanwhile, the U's were eliminated from the Football League Trophy in the group stages, while Brentford won over two legs in the League Cup.