UFC 4 used an eight-man tournament format, with the winner receiving $64,000. The event also featured three alternate fights. All seven tournament fights were shown on the live pay-per-view broadcast, as well as the Jason Fairn vs. Guy Mezger alternate fight.
The tournament had no weight classes or weight limits. Each match had no time limit or rounds, therefore no judges were used for the night. The referee for the night was "Big" John McCarthy. Royce Gracie won the event by defeating Dan Severn with a triangle choke. The card also featured the notorious fight between Keith Hackney and Joe Son; Hackney won via submission after landing a series of unanswered strikes to the groin of Joe Son.