Locations of the 1962-63 Montenegrin Republic League teams
Before the start of 18th edition of the League, number of participants was expanded to 10 (on season 1961–62 played nine teams. Except the teams from previous year, a new member of the competition was Ivangrad. Just before the start of season, Čelik withdrawn by their own decision, so their place was given to Iskra.[2]
At the end of 18 weeks long competition, Lovćen and Jedinstvo were equalised on the top of the table.[3] But, because of better goal difference, Lovćen won the title and participated in the qualifiers for Yugoslav Second League.
Last-placed Arsenal was relegated.
Source: [citation needed] (C) Champions; (Q) Place in qualifiers for 1963–64 Yugoslav Second League - East; (R) Relegated
Qualifiers for Yugoslav Second League
Lovćen played in the qualifiers for 1963–64 Second League - East. They were defeated by champion of Republic League of SR Macedonia - Pobeda, so didn't get promotion to higher level.