2003–04 Second League of Serbia and Montenegro

Second League of Serbia and Montenegro 2003–04 (Serbian: Druga savezna liga) consisted of four groups of 10 teams. The competition started on 17 August 2003 and the regular season ended on June 13, 2004.

Changes for next season
The next season, second level in Serbia and Montenegro football consisted of two groups. Therefore, as the end of season, Serbian groups (North, East & West) merged into Serbian Second League (Druga liga Srbija), and South group formed the Montenegrin Second League (Druga liga Crna Gora).

Second leg
Mornar qualified to 2004–05 Montenegrin First League, while Lovćen remained a member of Second League.