High Seas Fisheries Licensing Act of 1994

High Seas Fisheries Licensing Act of 1994 - Prohibits a high seas vessel from engaging in harvesting operations on the high seas unless the vessel has on board a valid license issued under this Act. Makes any U.S. vessel eligible to receive such a license unless the vessel was previously authorized to be used for fishing on the high seas by a foreign nation and: (1) such nation suspended such authorization because the vessel undermined the effectiveness of international conservation and management measures; or (2) such nation, within the last three years preceding application for a license, withdrew such authorization because the vessel undermined the effectiveness of international conservation and management measures.

Makes such restriction inapplicable in cases where the Secretary of Commerce determines that issuing a license would not subvert the Agreement to Promote Compliance with International Conservation and Management Measures by Fishing Vessels on the High Seas. Sets forth application and fee provisions.

Directs the Secretary to maintain a record of high seas fishing vessels issued licenses under this Act and to notify the flag State if a foreign fishing vessel has engaged in activities undermining the effectiveness of international conservation and management measures.

Sets forth enforcement and penalty provisions.