The 1962–63 Yugoslav Second League season was the 17th season of the Second Federal League (Serbo-Croatian: Druga savezna liga), the second level association football competition of SFR Yugoslavia, since its establishment in 1946. The league was contested in two regional groups (West Division and East Division), with 16 clubs each, four more than in the previous season.
West Division
Teams
A total of sixteen teams contested the league, including ten sides from the 1961–62 season, one club relegated from the 1961–62 Yugoslav First League and five sides promoted from the third tier leagues played in the 1961–62 season. The league was contested in a double round robin format, with each club playing every other club twice, for a total of 30 rounds. Two points were awarded for wins and one point for draws.
A total of sixteen teams contested the league, including nine sides from the 1961–62 season, one club relegated from the 1961–62 Yugoslav First League and six sides promoted from the third tier leagues played in the 1961–62 season. The league was contested in a double round robin format, with each club playing every other club twice, for a total of 30 rounds. Two points were awarded for wins and one point for draws.