A novel soybean cultivar, designated 94408-803, is disclosed. The invention relates to the seeds of soybean cultivar 94408-803, to the plants of soybean 94408-803 and to methods for producing a soybean plant produced by crossing the cultivar 94408-803 with itself or another soybean variety. The invention further relates to hybrid soybean seeds and plants produced by crossing the cultivar 94408-803 with another soybean cultivar.