Year 294 BC was a year of the pre-Julian Roman calendar. At the time it was known as the Year of the Consulship of Megellus and Regulus (or, less frequently, year 460 Ab urbe condita). The denomination 294 BC for this year has been used since the early medieval period, when the Anno Dominicalendar era became the prevalent method in Europe for naming years.
Alexander V of Macedon is ousted by his brother, Antipater II. Therefore Alexander V turns to Demetrius Poliorcetes for help in recovering his throne. However, Demetrius Poliorcetes establishes himself on the throne of Macedonia and then murders Alexander V. Antipater II loses the throne of Macedonia but is able to survive.
Pyrrhus of Epirus exploits the dynastic quarrel in Macedonia involving Alexander V of Macedon, his brother, Antipater II and Demetrius Poliorcetes to take over the frontier areas of Parauaea and Tymphaea, along with Acarnania, Ampholochia, and Ambracia.
Lysimachus concludes a peace with Demetrius Poliorcetes whereby Demetrius Poliorcetes is recognized as ruler of Macedonia.
Stratonice, daughter of Demetrius Poliorcetes and wife of Seleucus marries her stepson Antiochus. Seleucus has reportedly instigated the marriage after discovering that his son by his late wife Apama was in danger of dying of lovesickness as he has fallen in love with his beautiful stepmother.