Just as the previous season, the league consisted of 2 groups, A and B, each containing 10 clubs. Both groups were played in league system. By winter break all clubs in each group had met each other twice, home and away, with the bottom four from A group moving to group B, and being replaced by the top four from the B group. At the end of the season the same situation happened with four teams being replaced from A and B groups, and in addition, the bottom three clubs from the B group were relegated into the Second League of FR Yugoslavia for the next season and replaced by the top three from that league.
At the end of the season Red Star Belgrade became champions.
That was the first season when Yugoslav clubs qualified to the UEFA competitions.