The first leg of the final was played on 10 May 1995 at Obilić Stadium, where the hosts lost 0–4 to FK Crvena zvezda.

In the next season, FK Obilić achieved its greatest official success and was declared Champion of Yugoslavia.

[5] Thanks to the success, FK Obilić took part in the following season's UEFA Champions League qualification; it was eliminated from the UEFA Cup, but played matches against notable opponents, FC Bayern Munich and Atlético Madrid, at Partizan Stadium instead of Obilić Stadium.

[13][14] Before the season UEFA threatened to exclude FK Obilić from the competition as its owner was indicted for crimes against humanity, so Arkan transferred the ownership to his wife, turbofolk performer Ceca.

Plans were developed to completely rebuild the entire stadium, giving it a capacity of 16,200 spectators and becoming one of the most modern football venues in Serbia.

[16][17] Also, the stadium stands at a place where Nazi German soldiers were executed during World War II.

[23] On 31 October 2013, a Women's World Cup qualification game was played at the stadium (Serbia – Iceland 1–2).

[24] The stadium has also hosted multiple international games of youth national football teams and was one of the venues of men's and women's football tournament at 2009 Summer Universiade[25] as well as 2011 UEFA European Under-17 Championship (three group stage matches were played at Obilić Stadium during that tournament).