Princip was born in Hadžići, near Sarajevo, Austria-Hungary (now Bosnia and Herzegovina), into an ethnic Serb family.

His father Jovan (Jovo) was the brother of Gavrilo Princip, the assassin of Archduke Franz Ferdinand of Austria.

[1] He joined the League of Communist Youth of Yugoslavia (SKOJ) during his gymnasium years in Sarajevo.

The acclaimed student cultural club (AKUD) "Slobodan Princip – Seljo" was named after him.

In neighbourhood Lukavica in Istočno Novo Sarajevo was military base of Yugoslav People's Army named after him.