The finals were cut short as Shakhtar Luhansk earned the maximum points after just two games and thus securing the season's title with the.
KZEZO stands for the Kakhovkan Factory (Zavod) of Electro-Welding Equipment (Elektro-Zvariuvalnoho Obladnannia).
Teams that applied to the 2001-02 Second League discontinuing their further participation in the competition: SKA-Orbita Lviv, Stal Dniprodzerzhynsk, and Dnister Ovidiopol.
Note: Stal Dniprodzerzhynsk decided to join Druha Liha.SVKh Danika Simferopol and KDPU Mekhanizator Komyshuvate withdrew.
A permission to apply for the Second League for the next 2002-03 season was granted to Shakhtar Luhansk, Vuhlyk Dymytrov, and Systema-KKhP Cherniakhiv.