The 1981–82 Yugoslav First League season was the 36th season of the First Federal League (Serbo-Croatian: Prva savezna liga), the top level association football competition of SFR Yugoslavia, since its establishment in 1946. The season began on 26 July 1981 and ended on 2 May 1982. Dinamo Zagreb led by Miroslav Blažević won their fourth title five points ahead of previous season's champions Red Star.
A total of 18 teams contested the league, including 16 sides from the 1980–81 season and two clubs promoted from the 1980–81 Yugoslav Second League as winners of the two second level subdivisions East and West. The league was contested in a double round robin format, with each club playing every other club twice, for a total of 34 rounds. Two points were awarded for wins and one point for draws.
Borac Banja Luka and Napredak Kruševac were relegated at the end of the previous season. Osijek and Teteks Tetovo were promoted from the 1980–81 Yugoslav Second League.
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