In 1994, it was renamed as Third League and granted the status of professionals, but during a winter break of 1995 it was decided to discontinue it and merge back with the Ukrainian Second League.

The league was created from the pool of clubs of the third tier that did not perform well in the previous season as well as the best new amateur clubs that had won their respective regional competitions.

Each season the league was admitting about 10 new clubs from the KFK competitions (8 in 1993, 10 in 1994, and 12 in 1995).

In 1992–93 Ukrainian Transitional League took place several strange nuances.

The third placed team withdrew after being granted promotion, the fourth place which in mid-season was forcefully merged with another entity gave away its promotion in favor of the newly acquired entity, another club which was excluded from competitions due to sportsmanship conduct sanctions was reinstated for the next season, out of the last six team, the third from the bottom of the season's standing table was allowed to stay for the next season.