The R32 GT-R V-Spec II was released in February 1994 to commemorate Nissan's fourth consecutive All Japan Touring Car Championship (JTC) victory. Building on the previous V-Spec, the V-Spec II added BBS 17×8JJ forged aluminum wheels with low-profile 45-series Bridgestone Potenza RE010 tires (245/45R17), refining the GT-R's already capable chassis with a more aggressive stance and improved high-speed stability. It was the final evolution of the R32 GT-R before production ended in 1994.

1,306 units total produced — released February 14, 1994. Target sales of 500 units/month via Prince-related Nissan dealerships.