A total of 12 teams participate in this edition of the Second League.
New members are FK Berane and FK Mogren who were relegated from 2014–15 Montenegrin First League, and winners of Montenegrin Third League playoffs - FK Brskovo and FK Grafičar Podgorica.
During the first two rounds, each team played each other once home-and-away for a total of 22 games.
The pairings of the third round were then set according to the standings after the first two rounds, giving every team a third game against each opponent for a total of 33 games per team.
The 3rd-placed team (against the 10th-placed team of the First League) and the runners-up (against the 11th-placed team of the First League) will both compete in two-legged promotion play-offs after the end of the season.