The original Model 1894 was produced in .32-40 Winchester, .38-55 Winchester, .25-35 Winchester, .30-30 Winchester, and .32 Winchester Special. It was the first sporting rifle to sell over 1,000,000 units. The millionth Model 1894 was given to President Calvin Coolidge in 1927. It was the first hunting rifle chambered for the (then) new smokeless powder cartridges. The .30-30 Winchester is the cartridge that has became synonymous with the Model 1894 rifle.
In 1964 the manufacturing of the 94 was changed in order to make the firearm less expensive to manufacture. Generally "pre-64" rifles command a premium price over post-64 rifles.
Winchester 1894 Models were also manufactured in typical handgun calibers such as .38 Special/.357 Magnum, .44 Special/.44 Magnum, .45 Colt (sometimes called the .45 Long Colt or .45 Cowboy) as well as the .44-40 Winchester. Typically, the tube magazine is able to hold 9 to 13 rounds of the previously mentioned handgun calibers. The magazine capacity depends on the length of the barrel, as the tube magazine (located below the barrel) typically covers the entire length of the barrel.
The 1894 action, designed for .30 caliber rifle rounds, was stronger than the action of the Winchesters (Models: 1892, 1873, 1866) that were designed for handgun calibers.