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| 25.04.1954 | Dinamo Zagreb | - | Rode Ster Belgrado | 1:0 | ||
| Radnički Beograd | - | Vardar Skopje | 2:0 | |||
| Partizan | - | NK Odred | 2:0 | |||
| Vojvodina | - | BSK Beograd | 2:2 | |||
| Spartak Subotica | - | Hajduk Split | 2:0 | |||
| FK Rabotnički | - | Proleter Osijek | 0:2 | |||
| FK Sarajevo | - | Lokomotiva Zagreb | 2:2 |
| » Stand | Thuis | uit | Heenronde | Returnronde |
| # | Team | GS. | W. | G. | V. | Dp. | Ds. | P. | |
|---|---|---|---|---|---|---|---|---|---|
| 1 |
|
Dinamo Zagreb | 25 | 18 | 4 | 3 | 66:22 | 44 | 40:10 |
| 2 |
|
Partizan | 25 | 17 | 5 | 3 | 75:30 | 45 | 39:11 |
| 3 |
|
Rode Ster Belgrado | 25 | 17 | 4 | 4 | 51:20 | 31 | 38:12 |
| 4 |
|
Hajduk Split | 25 | 16 | 3 | 6 | 54:32 | 22 | 35:15 |
| 5 |
|
Vojvodina | 25 | 13 | 5 | 7 | 58:36 | 22 | 31:19 |
| 6 |
|
Spartak Subotica | 25 | 11 | 3 | 11 | 44:48 | -4 | 25:25 |
| 7 |
|
FK Sarajevo | 25 | 10 | 4 | 11 | 34:43 | -9 | 24:26 |
| 8 |
|
BSK Beograd | 25 | 7 | 7 | 11 | 36:39 | -3 | 21:29 |
| 9 |
|
Vardar Skopje | 25 | 5 | 10 | 10 | 29:35 | -6 | 20:30 |
| 10 |
|
Lokomotiva Zagreb | 25 | 7 | 5 | 13 | 38:43 | -5 | 19:31 |
| 11 |
|
Radnički Beograd | 25 | 8 | 3 | 14 | 36:47 | -11 | 19:31 |
| 12 |
|
Proleter Osijek | 25 | 5 | 8 | 12 | 31:60 | -29 | 18:32 |
| 13 |
|
FK Rabotnički | 25 | 4 | 3 | 18 | 18:81 | -63 | 11:39 |
| 14 |
|
NK Odred | 25 | 3 | 4 | 18 | 35:69 | -34 | 10:40 |
