The 2023–24 Ukrainian Second League is the 33rd since its establishment.

One team of the 2021–22 Ukrainian Second League returned: Three teams have been promoted from the 2022–23 Ukrainian Football Amateur League: Two teams have been promoted as participants of the 2021–22 Ukrainian Football Amateur League: Two second teams have been added: No teams were relegated from the 2022–23 Ukrainian First League.

Additional notes: Notes: As of 26 May 2024[update][52] Notes: Following the league season (double round-robin tournament), the runner-up and third placed teams are expected to meet with the 2023–24 First League's 16th and 18th placed teams to contest the 2023–24 Second League promotion.