| 1 | Ted DiBiase — Never WWF Champion The Million Dollar Man — Bought But Never Won Ted DiBiase, despite being the most elaborately planned WWF title contender of the era, never won the WWF Championship — his WM4 final loss to Savage being the closest he came to the title. | One of the most famous non-champions in WWF history — The... | Ted DiBiase | Lost WWF Championship Final to Savage | 0 |
| 2 | Jake Roberts — Never WWF Champion The Snake — Excellence Without the Gold Jake Roberts — one of the greatest wrestlers and character performers in WWF history — never won the WWF Championship. His WM4 time limit draw eliminated him from the tournament. | — | Jake Roberts | 15-minute draw with Rude — eliminated | 0 |
| 3 | Rick Rude — Never WWF Champion Ravishing Rick — IC But Not World Rick Rude won the Intercontinental Championship but never captured the WWF World Heavyweight Championship. His WM4 draw with Roberts eliminated him in the first round. | — | Rick Rude | 15-minute draw with Roberts — eliminated | 0 |
| 4 | One Man Gang / Akeem — Never WWF Champion The 747 — Power Without the Title One Man Gang (later Akeem) competed in WM4's semi-finals before being DQ'd against Savage — he never captured the WWF World Heavyweight Championship despite his imposing physical presence. | — | One Man Gang (Akeem) | DQ loss to Savage in semi-final | 0 |
| 5 | Greg Valentine — Never WWF Champion The Hammer — IC and Tag But Not WWF World Greg Valentine won the WWF Intercontinental Championship and the NWA World title but never captured the WWF World Heavyweight Championship — his WM4 quarter-final loss to Savage ended his tournament run. | — | Greg Valentine | QF loss to Savage | 0 |
| 6 | Don Muraco — Never WWF Champion The Rock — IC and Tag But Not WWF World Don Muraco was a two-time Intercontinental Champion and respected WWF veteran who never captured the WWF World Heavyweight Championship — his WM4 quarter-final loss to DiBiase ended his tournament run. | — | Don Muraco | QF loss to DiBiase | 0 |
| 7 | Dino Bravo — Never WWF Champion The Canadian Strongman — Never World Title Dino Bravo was a Canadian strongman character who held the record for bench press at the time but never captured the WWF World Heavyweight Championship — his WM4 R1 DQ loss to Muraco ended his tournament. | — | Dino Bravo | R1 DQ loss to Muraco | 0 |
| 8 | Butch Reed — Never WWF Champion The Natural — Never World Title Butch Reed was a talented but mid-card performer who never captured the WWF World Heavyweight Championship — his WM4 first round loss to Savage was his primary WM moment. | — | Butch Reed | R1 loss to Savage | 0 |
| 9 | Bam Bam Bigelow — Never WWF Champion The Beast from the East — Never World Title Bam Bam Bigelow was one of the most physically gifted big men in WWF history but never captured the WWF World Heavyweight Championship — his WM4 first round count-out loss to One Man Gang ended his tournament run. | One of history's most talented big men to never win the W... | Bam Bam Bigelow | R1 count-out loss to One Man Gang | 0 |
| 10 | Jim Duggan — Never WWF Champion Hacksaw — USA! USA! — Never World Title Jim Duggan was one of the WWF's most beloved patriotic characters but never captured the WWF World Heavyweight Championship — his WM4 first round win over DiBiase was the highlight of his tournament run before being eliminated. | — | Jim Duggan | R1 win (DiBiase) — eliminated later in tournament | 0 |