The mushroom contains the psychotropic compounds psilocybin and psilocin, and also related tryptamine alkaloids baeocystin, norbaeocystin, and aeruginascin.

Psilocybe serbica has no specific smell (somewhat raddish, but never farinaceous), and the taste is usually bitter.

It is smooth, hygrophanous, and slightly translucent-striate when moist but not viscid and without a separable gelatinous pellicle.

Spores are purple-brown, ellipsoid, slightly flattened, and thick-walled, with a distinct germ pore.

Psilocybe serbica is found growing mostly in groups, on well decayed deciduous and coniferous wood, and along Urtica spp.

bohemica was the highest determined in the whole dataset and P. serbica is thus the most potent Psilocybe species in Europe.