The Faculty was founded in 2001 under the name of Faculty for Business Law, and it began operating in 2002. It was registered as per the Decision No. 612-00-298/2001-04 issued by the Ministry of Education and Sports of the Republic of Serbia on November 1, 2001. After four years, the Faculty changed its name into the Faculty of Law and joined the Union University in Belgrade in 2005.

The Faculty realizes the concept of law studies established in 1998 by several eminent professors of law who were exiled from the state Faculty of Law in Belgrade in a political cleansing conducted at the time. The fundamental task that the Faculty focuses its work on is to prepare students to become responsible professionals and leaders in legal affairs, business environment, state bodies and private life, but also to take part in the development of law and legal institutions in the society.

This is the only faculty in the Republic of Serbia whose teaching staff includes a professor who received an honorary doctorate of a foreign university for his contribution to the development of the legal science – Professor Vladimir Vodinelić, who earned his honorary doctorate title in Germany.

One of the lecturers at the Faculty was the late Prof. Dr. Dr. h.c. mult. Vojin Dimitrijević. Lecturers from this faculty represent Serbia in the U.N. and the Council of Europe bodies, as well as European expert organizations. A professor of the Faculty was also the fist judge to represent Serbia in the European Court of Human Rights – Prof. Dragoljub Popović, PhD.

The status of permanent guest professor of the Union University Faculty of Law has been awarded to: Prof. Filippo Ranieri, Ph.D. (Universitat des Saarlandes, Germany), Prof. Michael Martinek, Ph.D. (Universitat des Saarlandes, Germany), Prof. Achim Rogmann, Ph.D. (Fachhochschule Braunschweig/Wolfenbuttel, Germany), Prof. Mihajlo Dika (the University of Zagreb Faculty of Law, Croatia), Prof. Šime Ivanjko, Ph.D. (the University of Maribor Faculty of Law, Slovenia), Ph.D. Thomas Meyer, Director of the Office of German Organization for Technical Cooperation (GIZ) in Belgrade. A great number of other distinguished international experts gave lectures at the Faculty, including Dr. h. c. Marcus Lutter (Universitat Bonn), Academician Prof. Tibor Varadi, Ph.D. (the Emory University, USA; the Central European University (CEU), Hungary), Prof. Thomas H. Speedy Rice, Ph.D. (Spokane School of Law, USA), Prof. Herwig Roggemann, Ph.D. (Freie Universitat Berlin, Germany), Prof. Andreas Zimmermann, Ph.D. (University of Kiel, Germany), Stefan Messmann (CEU, Hungary).