For the 1934 Isle of Man TT Races despite the winning of four TT Races in 2 years, Stanley Woods parted with Norton motor-cycles over the issue of prize money and race tactics and joined Husqvarna alongside Ernie Nott.
The 1934 Junior TT Race was won by Jimmie Guthrie riding for Norton at an average race speed of 79.16 mph from Jimmie Simpson and Ernie Nott a distant third riding for the Swedish Husqvarna marque.
During the first lap of the 1934 Lightweight Race, Syd Crabtree, the winner of the 1929 Lightweight Race crashed at the Stonebreakers Hut on the Mountain Section and was killed. The 1934 Lightweight TT Race was won by Jimmie Simpson riding a Rudge motor-cycle in 3 hours, 23 minutes and 10 seconds at an average race speed of 70.81 mph. The 1934 Lightweight TT Race provided Rudge with another 1-2-3 win since the 1930 Junior TT Race and Jimmie Simpson's only TT Race victory winning from team-mates Ernie Nott and Graham Walker taking 2nd and 3rd places.
The 1934 Senior TT Race was led by Stanley Woods riding for Husqvarna but retired on the Mountain Section on the last lap after running-out of fuel. This handed a Junior/Senior double win to Jimmie Guthrie riding the works Norton at an average speed of 78.01 mph from Jimmie Simpson riding a Norton in his last TT Race and Walter Rusk with a Velocette.
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7 laps (264.11 miles) Mountain Course.
| Rank | Rider | Team | Speed | Time |
|---|---|---|---|---|
| 1 | Jimmie Guthrie | Norton | 78.01 | 3:23.10.0 |
| 2 | Jimmie Simpson | Norton | 75.27 | 3:30.05.0 |
| 3 | Walter Rusk | Velocette | 72.58 | 3:38.22.0 |
| 4 | Les Archer | Velocette | 80.54 | 3:16.48.0 |
| 5 | Vic Brittain | Norton | 72.24 | 3:39.25.0 |
| 6 | Graham Walker | Rudge | 70.59 | 3:44.32.0 |
| 7 | H. G. Tyrell Smith | AJS | 70.56 | 3:44.38.0 |
| 8 | H. E. Newman | Velocette | 69.42 | 3:48.20.0 |
| 9 | Harold Daniell | AJS | 69.02 | 3:49.02.0 |
| 10 | A. J. Mitchell | Velocette | 68.68 | 3:50.46.0 |
7 laps (264.11 miles) Mountain Course.
| Rank | Rider | Team | Speed | Time |
|---|---|---|---|---|
| 1 | Jimmie Guthrie | Norton | 79.16 mph | 3.20.14.0 |
| 2 | Jimmie Simpson | Norton | 79.10 l | 3:20.23.0 |
| 3 | Ernie Nott | Husqvarna | 76.93 | 3:26.02.0 |
| 4 | H. E. Newman | Velocette | 76.84 | 3:26.16.0 |
| 5 | A. G. Mitchell | Velocette | 76.55 | 3:27.03.0 |
| 6 | Les Archer | Velocette | 76.05 | 3:28.24.0 |
| 7 | Walter Rusk | Velocette | 75.51 | 3:29.55.0 |
| 8 | F. Aranda | Velocette | 72.73 | 3:27.56.0 |
| 9 | Vic Brittain | Velocette | 72.73 | 3:39.00.0 |
| 10 | H. C. Lamacraft | Velocette | 71.73 | 3:42.42.0 |
7 laps (264.11 miles) Mountain Course.
| Rank | Rider | Team | Speed | Time |
|---|---|---|---|---|
| 1 | Jimmie Simpson | Rudge | 70.81 mph | 3.43.50.0 |
| 2 | Ernie Nott | Rudge | 69.79 | 3:47.07.0 |
| 3 | Graham Walker | Rudge | 67.67 | 3:54.13.0 |
| 4 | Stanley Woods | Moto Guzzi | 67.54 | 3:54.41.0 |
| 5 | Charlie Manders | New Imperial | 66.12 | 3:59.42.0 |
| 6 | Sid Gleave | Excelsior | 65.92 | 4:00.27.0 |
| 7 | Chris Tattersall | CTS | 64.45 | 4:05.55.0 |
| 8 | Les G. Martin | Cotton | 60.69 | 4:21.10.0 |
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