| Competition: | Prva savezna liga |
| Season: | 1953 - 54 |
| Winners: | Dinamo Zagreb (2nd title) |
| Relegated: | Odred Ljubljana Rabotnički |
| League Topscorer: | Stjepan Bobek (21) |
| Matches: | 182 |
| Total Goals: | 639 |
| Prevseason: | 1952–53 |
| Nextseason: | 1954–55 |
The First Federal League of Yugoslavia's 1953/1954 season was the highest level football competition held in communist Yugoslavia between 1953 and 1954. The league was won by Croatian side NK Dinamo Zagreb.
Due to the league's expansion from 12 to 14 teams two clubs were relegated and four teams were promoted at the end of the previous season.
Champions:
players (league matches/league goals):