The previous Member for Kooyong was Andrew Peacock (LP) who represented the electorate from 1966 to 1994. He resigned from Parliament on 17 September 1994 and the writ for the by-election was issued on 14 October 1994.

Demographic rating:	Inner Metropolitan
Seat status following 1993 election:	Safe Liberal
Two-party preferred 1993 election:	Labor:	35.93%
	LNP:	64.07%
Two-candidate preferred 1994 by-election:	Liberal:	64.03%
	Green:	35.97%

A total of seven candidates nominated for the Kooyong by-election held on 19 November 1994 compared with five at the 1993 federal election.

Candidates	Votes	%
Yasmin Cotton (IND)	2 004	3.47
Paul Francis Tobias (IND)	518	0.90
Gilbert Boffa (IND)	955	1.65
David L J Greagg	686	1.19
#Petro Georgiou (LP)	32 872	56.86
Angela Walker (AFI)	4 573	7.91
Peter Singer (GRN)	16 202	28.03
Formal	57 810	96.39
Informal	2 166	3.61
Total	59 976	82.79

A total of 72 441 electors were enrolled for the Kooyong by-election. The Divisional Returning Officer for Kooyong declared Petro Georgiou (LP) as the new Member on 25 November 1994.