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| 19.09.1954 | Vardar Skopje | - | Hajduk Split | 1:2 | ||
| Vojvodina | - | Rode Ster Belgrado | 3:2 | |||
| BSK Beograd | - | FK Sarajevo | 3:1 | |||
| NK Zagreb | - | Spartak Subotica | 2:3 | |||
| Željezničar Sarajevo | - | Lokomotiva Zagreb | 3:1 | |||
| Radnički Beograd | - | Partizan | 2:3 | |||
| Proleter Osijek | - | Dinamo Zagreb | 1:2 |
| » Stand | Thuis | uit | Heenronde | Returnronde |
| # | Team | GS. | W. | G. | V. | Dp. | Ds. | P. | |
|---|---|---|---|---|---|---|---|---|---|
| 1 |
|
BSK Beograd | 3 | 3 | 0 | 0 | 11:3 | 8 | 6:0 |
| 2 |
|
Partizan | 3 | 3 | 0 | 0 | 9:3 | 6 | 6:0 |
| 3 |
|
Dinamo Zagreb | 3 | 3 | 0 | 0 | 9:5 | 4 | 6:0 |
| 4 |
|
Hajduk Split | 3 | 2 | 1 | 0 | 9:6 | 3 | 5:1 |
| 5 |
|
Spartak Subotica | 3 | 2 | 0 | 1 | 9:6 | 3 | 4:2 |
| 6 |
|
Vojvodina | 3 | 2 | 0 | 1 | 6:4 | 2 | 4:2 |
| 7 |
|
Rode Ster Belgrado | 3 | 1 | 1 | 1 | 7:6 | 1 | 3:3 |
| 8 |
|
Proleter Osijek | 3 | 1 | 0 | 2 | 8:10 | -2 | 2:4 |
| 9 |
|
Željezničar Sarajevo | 3 | 1 | 0 | 2 | 7:9 | -2 | 2:4 |
| 10 |
|
NK Zagreb | 3 | 1 | 0 | 2 | 4:6 | -2 | 2:4 |
| 11 |
|
Vardar Skopje | 3 | 0 | 1 | 2 | 3:6 | -3 | 1:5 |
| 12 |
|
FK Sarajevo | 3 | 0 | 1 | 2 | 3:7 | -4 | 1:5 |
| 13 |
|
Radnički Beograd | 3 | 0 | 0 | 3 | 6:9 | -3 | 0:6 |
| 14 |
|
Lokomotiva Zagreb | 3 | 0 | 0 | 3 | 3:14 | -11 | 0:6 |
