- Friday 11.02.2001
- U.S. Broadcast: Pay Per View
- Promotion: Ultimate Fighting Championship
- Ownership: Zuffa, LLC
- Venue: MGM Grand Garden Arena
- Location: Las Vegas, Nevada, United States
- Enclosure: Octagon
- TV Announcers: Mike Goldberg, Jeff Osborne, Jens Pulver
- Ring Announcer: Bruce Buffer
- Post-Fight Interviews: Ryan Bennett
- Ticket Revenue (live gate): $502,550
- Attendance: 9,000
- PPV Buys / Buyrate: 65,000 | TV Ratings:
- MMA Bouts: 8
Cancelled & Fizzled Bouts
Couture vs. Rizzo II (8), Hughes vs. Newton I (6), Barnett vs. Hoffman (4), Lindland vs. Baroni (2)
Rodriguez vs. Williams (7)
Penn vs. Uno I (5), Mir vs. Traven (1)
UFC 34 Wiki
Although it did about 10,000 fewer buys than the 75,000 turned in by the dreadful UFC 33, the fight card of UFC 34 was received far better by Pay Per View audiences, as the UFC had learned its lesson on the previous show and refused to schedule more than two title fights for the event.
In the featured fight of the evening, Randy Couture defeated Pedro Rizzo for the second time to defend his Heavyweight Championship, this time managing to finish the powerful Brazilian in the third round with strikes. Matt Hughes, in turn, won his first UFC Welterweight title by defeating Carlos Newton with a knockout slam while escaping from a tight Triangle Choke in one of the best remembered finishing sequences of any fight in history.
UFC 34 marked the promotional debut of future Heavyweight Champion Frank Mir, and touted newcomer BJ Penn continued to increase his momentum and earn his nickname "Prodigy" status, knocking Japanese fighter Caol Uno out in just eleven seconds.