| Competition: | First League of FR Yugoslavia |
| Season: | 1997–98 |
| Winners: | Obilić 1st domestic title |
| Continentalcup1: | Champions League |
| Continentalcup1 Qualifiers: | Obilić |
| Continentalcup2: | UEFA Cup |
| Continentalcup2 Qualifiers: | Red Star |
| Continentalcup3: | Cup Winners' Cup |
| Continentalcup3 Qualifiers: | Partizan |
| Continentalcup4: | Intertoto Cup |
| Continentalcup4 Qualifiers: | Vojvodina |
| League Topscorer: | Saša Marković (27) |
| Total Goals: | 560 |
| Prevseason: | 1996–97 |
| Nextseason: | 1998–99 |
The 1997–98 First League of FR Yugoslavia was the sixth season of the FR Yugoslavia's top-level football league since its establishment.
The league was divided into 2 groups, A and B, consisting each of 10 clubs. Both groups were played in league system. By winter break all clubs in each group meet each other twice, home and away, with the bottom four classified from A group moving to the group B, and being replaced by the top four from the B group. At the end of the season because the two groups league format was being abandoned for the next season and replaced by a single league consisting of 16 clubs, more clubs were relegated, six, and only the two first classified from the Second League of FR Yugoslavia would be promoted.
At the end of the season FK Obilić became champions for the first time in their history.
The league's top-scorer with a total of 27 goals was Saša Marković who played the first half of the season with FK Železnik and moving during the winter break to Red Star Belgrade where he played the rest of the season.
Six clubs were relegated at the end of the season: FK Budućnost Valjevo, FK Rudar Pljevlja, FK Sutjeska Nikšić, FK Loznica, FK Borac Čačak and FK Bečej.
| Club | City | Stadium | Capacity |
|---|---|---|---|
| Partizan | Belgrade | Partizan Stadium | 32,710 |
| Red Star | Belgrade | Red Star Stadium | 55,538 |
| Vojvodina | Novi Sad | Karađorđe Stadium | 17,204 |
| Zemun | Zemun, Belgrade | Zemun Stadium | 10,000 |
| Rad | Belgrade | Stadion Kralj Petar I | 6,000 |
| Proleter | Zrenjanin | Stadion Karađorđev park | 13,500 |
| Hajduk Kula | Kula | Stadion Hajduk | 6,000 |
| Budućnost Podgorica | Podgorica | Podgorica City Stadium | 12,000 |
| Obilić | Belgrade | FK Obilić Stadium | 4,500 |
| Železnik | Belgrade | Železnik Stadium | 8,000 |
| Mladost Lučani | Lučani | Mladost Stadium | 8,000 |
| Čukarički | Belgrade | Stadion Čukarički | 7,000 |
| Club | City | Stadium | Capacity |
|---|---|---|---|
| Priština | Priština | Priština City Stadium | 25,000 |
| Radnički | Kragujevac | Čika Dača Stadium | 15,000 |
| Loznica | Loznica | Stadion Lagator | 4,000 |
| Borac | Čačak | Čačak Stadium | 6,000 |
| Sutjeska | Nikšić | Gradski stadion (Nikšić) | 10,800 |
| OFK Beograd | Karaburma, Belgrade | Omladinski Stadium | 20,000 |
| Spartak | Subotica | Subotica City Stadium | 13,000 |
| Radnički Niš | Niš | Čair Stadium | 18,000 |
| Bečej | Bečej | Stadion kraj Tise | 3,000 |
| Budućnost Valjevo | Valjevo | Park Pećina | 6,000 |
| Sartid | Smederevo | Smederevo City Stadium | 17,200 |
| Rudar Pljevlja | Pljevlja | Stadion pod Golubinjom | 10,000 |
Champions: FK Obilić (Coach: Dragan Okuka)
Players (league matches/goals)
Sahmir Garčević (16/1) Radovan Gajić (1/0)| Rank | Player | Club | Goals |
|---|---|---|---|
| 1 | Red Star | ||
| 2 | Obilić | ||
| 3 | Red Star | ||
| 4 | Red Star | ||
| 5 | Partizan | ||
| 6 | Čukarički | 11 | |
| Zoran Janković | Železnik | ||
| Goran Obradović | Partizan | ||
| 9 | Radovan Marković | Mladost Lučani | 10 |
| Dragan Jović | Proleter Zrenjanin |