During the 1994–95 season, Red Star Belgrade participated in the 1994–95 First League of FR Yugoslavia and 1994–95 FR Yugoslavia Cup.
Season summary.
Red Star won their sixth double in this season.
On 12 November 1994, Red Star played a friendly match against Olympiacos.
Red Star were awarded a special trophy to commemorate their win in the 100th Eternal derby.
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References.
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