The 2023–24 Serbian First League is the 19th season of the Serbian First League since its establishment.
The league consist of 16 teams: ten teams from the previous season, two teams relegated from 2022–23 Serbian SuperLiga and four new teams promoted from Serbian League.
Tekstilac will make their debut in competition.
Each team will play each other twice in round-robin format after which top half will play in Promotion round and bottom half in Relegation round Play-offs.
First two teams from the Promotion round will be promoted to next season of Serbian Superliga, while third and fourth team will play in a Relegation Play-off.