Waterways Obstruction Removal Act of 1994

Waterways Obstruction Removal Act of 1994 - Amends Federal law to require the owner or operator of a sunken or grounded vessel obstructing a navigable waterway to begin the vessel's removal (or, if appropriate, secure it pending removal to allow navigation to resume) within 24 hours after the Secretary of the Department in which the Coast Guard is operating issues an order to stop or delay navigation in any U.S. navigable waters because of conditions relating to such sinking or grounding.

Requires approval by the Secretary of the Army (Secretary) of the removal plan before removal may begin. Authorizes the Secretary to impose a civil penalty for each day the vessel owner or operator fails to begin removal. Requires the Secretary to remove or destroy the vessel using certain summary removal procedures if the owner or operator fails to begin removal or to secure the vessel pending removal, or fails to complete removal as soon as possible. Allows the Secretary to recover from the owner or operator the actual costs, including administrative costs, of any removal action taken.