During the international debut in 1995, strengthened by new stars of European basketball (Aleksandar Đorđević, Dejan Bodiroga, Željko Rebrača, Dejan Tomašević, Peja Stojaković and many others), Serbian national team continued where Yugoslavia stopped by winning 7 medals from 1995 to 2002 (back to back World Championships in 1998 and 2002, 3 Eurobaskets in 1995, 1997 and 2001, silver at 1996 Olympics and bronze at 1999 Eurobasket).

The production of great players continued in the 21st century with Euroleague MVPs Miloš Teodosić, Nemanja Bjelica and Vasilije Micić, along with Bogdan Bogdanović, Nenad Krstić and 3-time NBA MVP Nikola Jokić.

In 2020s the new generations continue in the footsteps of their predecessors, winning titles and individual accolades in both NBA and Euroleague, simultaneously positioning the national team in second place in the FIBA ranking.

From Naismith's Hall of Famer Aleksandar Nikolić and Olympic champion Ranko Žeravica through multiple Euroleague champions Dušan Ivković, Svetislav Pešić and Božidar Maljković to Željko Obradović, the greatest coach in European basketball history and outside the NBA,[9][10][11] Serbian coaches have won a record 19 Euroleague titles, 17 out of 26 Yugoslavian medals and 13 medals with the Serbian national team at the biggest international competitions (FIBA World Cup, Eurobasket and Summer Olympics).

The agreement made basketball truly a global sport and directly opened the door for the continuation of American dominance on the international stage as well as the creation of a base of foreign players who will win 6 NBA MVP awards in a row and counting.

The team consisted of players selected from the population of over 23 million people, and the basketball infrastructure was evenly distributed among the six states which formed the Socialist Federal Republic of Yugoslavia.

Due to these sanctions and ongoing war, the national team was prevented from participating at the 1992 Summer Olympics, EuroBasket 1993 and 1994 FIBA World Cup.

Without much sponsorship for the war-impoverished country, the national team made its comeback to the international scene at the EuroBasket 1995 in Greece, where it won the gold medal; after defeating Lithuania in the final.

At the EuroBasket 2003, the team came in sixth place, but due to their world champion status, were automatically qualified for the 2004 Summer Olympics in Greece.

Entering 2004, the national team participated in the less important Diamond Ball tournament, prior to the 2004 Olympic Games where they won the gold medal.

After two consecutive tournament disappointments, hopes of getting back on the podium returned for the EuroBasket 2005 where Serbia and Montenegro was the host nation.

[16] Under Ivković's coaching, a new generation of players led by Nenad Krstić and Miloš Teodosić returned some of the old glory by taking the silver medal at Eurobasket 2009.

At the 2010 FIBA World Cup, after narrowly defeating Croatia in the Round of 16, Miloš Teodosić hit a deep three-point shot to upset the favourites of the tournament Spain in the quarter-finals.

[17] With the youngest team in the competition, Serbia eventually finished in fourth place after losing to Lithuania 99–88 in the bronze-medal game.

[20][21] At the EuroBasket 2015, Serbia finished in fourth place, with their only tournament loses coming in the semi-finals to Lithuania and in the bronze-medal game to France.

At the 2023 FIBA World Cup, despite absence of several star players, Serbia managed to reach the tournament final where they lost to the Germany.