The third edition of the competition was preceded by several years of efforts of the Music Society in Bydgoszcz to change the current organizational form. As a result of these efforts, the Ministry of Culture and Art appointed the Music Society as the main organizer of the competition. The co-organizer was the F. Nowowiejski Academy of Music in Bydgoszcz.
It was also a novelty to make the organizer responsible for raising funds, including donations from private patrons. Statutory prizes were financed entirely by the American Foundation of the Paderewski Center in Princeton, i.e. Barbara Piasecka-Johnson, while a Yamaha piano was donated for the best Polish participant by the Regina Smendzianka Foundation. Further funders were: Ignacy Paderewski Center Foundation from Wroclaw and the Bydgoszcz Cultural Foundation. The competition was co-financed by the Ministry of Culture and Arts, the Voivodeship Office in Bydgoszcz and the City Office of Bydgoszcz.
Honorary patronage over the 3rd Competition was taken by the President of the Republic of Poland Lech Wałęsa.
The Competition took place between February 5th and 13th, 1994. Auditions of the first and second stages as well as final A took place in the Concert Hall of the Academy of Music, whereas final B with orchestra, took place in the hall of the Pomeranian Philharmonic. The regulations provided for the participation of Polish and foreign pianists studying or domiciled in Poland, aged 27 years or less. 25 pianists applied to take part in the competition, and eventually 17 candidates from the following countries auditioned: Poland, Japan, Ukraine, USA and Great Britain.