According to the invention, there is provided a novel soybean variety designated 94B74. This invention thus relates to the seeds of soybean variety 94B74, to the plants of soybean 94B74, to plant parts of soybean variety 94B74 and to methods for producing a soybean plant produced by crossing plants of the soybean variety 94B74 with another soybean plant, using 94B74 as either the male or the female parent.