That dream wasn’t to last, however, as the German giants, already 2-0 up from a first leg game played at Easter Road in Edinburgh two weeks previously, went on to score another two after half-time to win 4-1 on aggregate and go on to win the cup.
It was good while it lasted, though, and fans of the Kirkcaldy side will always have their memories of those precious moments when the unlikeliest of cup upsets briefly seemed possible.
Here are some photos of the first-leg tie, by SNS Group and Getty Images, as a reminder of those magic moments ...
5. Raith Rovers v Bayern Munich
Jurgen Klinsman is congratulated by team-mates after scoring for Bayern Munich in October 1995's UEFA Cup second round game at Easter Road in Edinburgh against Raith Rovers. Photo: SNS Group Photo: SNS Group
6. Raith Rovers v Bayern Munich
Action from October 1995's UEFA Cup second round game at Easter Road in Edinburgh. Photo: SNS Group Photo: SNS Group
7. Raith Rovers v Bayern Munich
Bayern Munich's Oliver Kahn during a UEFA Cup second round game against Raith Rovers at Easter Road in Edinburgh in October 1995. Photo: Mike Cooper/Allsport via Getty Images Photo: Michael Cooper