1947–48 Yugoslav First League
# 1947–48 Yugoslav First League

## Teams

### Changes from last season

**Teams promoted from 1946–47 Yugoslav Second League**

* Sarajevo

**Teams relegated from 1946–47 Yugoslav First League**

* 09th place: Kvarner (Rijeka)
* 10th place: Budućnost (Titograd)
* 12th place: Željezničar (Sarajevo)
* 13th place: 14. Oktobar (Niš)
* 14th place: Nafta Lendava

### Overview

| Team | Home city | Republic | Stadium | Position in 1946–47 |
| - | - | - | - | - |
| Crvena zvezda | Belgrade | SR Serbia | | 0033rd |
| Dinamo Zagreb | Zagreb | SR Croatia | | 0022nd |
| Hajduk Split | Split | SR Croatia | Stadion Stari plac | 0044th |
| Lokomotiva | Zagreb | SR Croatia | | 0077th |
| Metalac | Belgrade | SR Serbia | | 0055th |
| Partizan | Belgrade | SR Serbia | | 0011st |
| Ponziana | Trieste | Free Territory of Trieste | | 01111th |
| Sarajevo | Sarajevo | SR Bosnia and Herzegovina | Stadion Koševo | |
| Spartak | Subotica | SR Serbia | | 0066th |
| Vardar | Skopje | SR Macedonia | Gradski stadion Skopje | |
