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| 07.04.1954 | BSK Beograd | - | Crvena Zvezda | 1:1 | ||
| NK Odred | - | Lokomotiva Zagreb | 1:2 | |||
| Vardar Skopje | - | FK Sarajevo | 1:1 | |||
| Dinamo Zagreb | - | FK Rabotnički | 5:0 | |||
| Hajduk Split | - | Partizan | 2:2 | |||
| Spartak Subotica | - | Proleter Osijek | 2:4 | |||
| 21.04.1954 | Radnički Beograd | - | Vojvodina | 1:3 |
| » Classement | équipe recevante | à l'extérieur | Premier tour | Second tour |
| # | Équipe | M. | G. | N. | P. | Buts | Diff. | Pts. | |
|---|---|---|---|---|---|---|---|---|---|
| 1 |
|
Dinamo Zagreb | 22 | 16 | 3 | 3 | 58:17 | 41 | 35:9 |
| 2 |
|
Crvena Zvezda | 22 | 15 | 4 | 3 | 45:17 | 28 | 34:10 |
| 3 |
|
Partizan | 22 | 14 | 5 | 3 | 64:30 | 34 | 33:11 |
| 4 |
|
Hajduk Split | 22 | 14 | 3 | 5 | 41:28 | 13 | 31:13 |
| 5 |
|
Vojvodina | 22 | 11 | 4 | 7 | 51:33 | 18 | 26:18 |
| 6 |
|
Spartak Subotica | 22 | 9 | 3 | 10 | 40:45 | -5 | 21:23 |
| 7 |
|
FK Sarajevo | 22 | 9 | 3 | 10 | 28:36 | -8 | 21:23 |
| 8 |
|
BSK Beograd | 22 | 7 | 6 | 9 | 34:32 | 2 | 20:24 |
| 9 |
|
Vardar Skopje | 22 | 5 | 9 | 8 | 28:31 | -3 | 19:25 |
| 10 |
|
Lokomotiva Zagreb | 22 | 6 | 4 | 12 | 32:38 | -6 | 16:28 |
| 11 |
|
Proleter Osijek | 22 | 4 | 8 | 10 | 28:50 | -22 | 16:28 |
| 12 |
|
Radnički Beograd | 22 | 6 | 3 | 13 | 29:42 | -13 | 15:29 |
| 13 |
|
FK Rabotnički | 22 | 4 | 3 | 15 | 18:68 | -50 | 11:33 |
| 14 |
|
NK Odred | 22 | 3 | 4 | 15 | 29:58 | -29 | 10:34 |
