He made his first start of 1994 in the Hutcheson Stakes at Gulfstream Park on January 20. He took the early lead but was passed in the stretch by Patton. Holy Bull then rallied and pulled away to win by three-quarters of a length. He suffered his first loss in the Fountain of Youth Stakes when he was caught in an early speed duel and then tired, finishing last. The loss was subsequently blamed on Holy Bull getting excited and breathing through his mouth instead of his nose, thus not getting enough air. Croll subsequently fit him with a new nose band and bit to keep his mouth closed.