The Serbia men's national water polo team represents Serbia in international water polo competitions and is controlled by the Water Polo Association of Serbia. It was known as the Yugoslavia men's national water polo team until February 2003 and the Serbia and Montenegro national water polo team until June 2006. When Serbia became independent, it became the successor state to the State Union of Serbia and Montenegro and, therefore, the results of all previous states rightfully belong to it. The Olympic Committee of Serbia and Yugoslavia declared the water polo team for the best male sports team of the year nine times with the first time in 2001, then seven times in a row from 2003 to 2009 and the last one in 2011.
On 16 January, Serbia water polo team beat Spain 8–5 in an excellent first game at the start of the European Championship. This was a match between two great rivals who played in the finals at the World Championships in Rome. On 17 January, Serbian water polo players as expected got the second triumph. "The Dolphins" selection won against Germany with a score 13–12 in a very hard match. Pijetlović was the man who made the difference scoring four goals for his team including the final for 13–11 which got Serbia the victory. On 19 January Serbs defeated the defending European champions Croatia with 15–12 in a third round game and made a decisive step towards direct placement in the semifinals. Udovičić was the top scorer for his team with three goals. This was a big and hard clash for bouth nations in which Serbs came out as winners. The clash will be also remembered for unsportsmanlike conduct of Dobud who struck Filipović from behind who instantly got the bruising under his eye. On 21 January, Serbia routinely came to the fourth victory at the European Championships in Eindhoven beating Romania 14–5. After the Montenegro and Spain 10–10 tie and Germans 10–9 victory over Croatia, Serbia has qualified for the semifinals. On 23 January, in the last round of group A where Milan Aleksić played his 100th official match for Serbia national team, Serbia lost to Montenegro with 11–7. In a match that in principle didn't mean much to Serbia, it was clear that the absence of motive may be crucial for the final result. On 27 January Serbia defeated the current world champion, Italy, with 12–8 and thus qualified for the finals. It was not revenge for defeat in the final of 2011 Shanghai, it was a simple lesson, which consisted of three phases – solid defense, a wise selection of moves in the attack and forceful implementation. On 29 January Serbia water polo team won its second European title since independence, and "dolphins" won the gold by beating Montenegro 9–8, paying them back for defeat in the 2008 European Championship finals played in Malaga.
Serbia took part in the traditional Samaridis Cup from 9 to 11 January. Selector Dejan Udovičić ordered 16 players who will play in the tournament: Soro, G. Pijetlović, B. Mitrović, Gocić, Udovičić, Ćuk, D. Pijetlović, Nikić, Aleksić, Rađen, Filipović, Prlainović, S. Mitrović, A.Šaponjić, L.Šaponjić and Mandić.
On 9 January, in the first round of the Samaridis Cup which is held on the Greekisland of Chios, Serbia men's water polo team lost to Spain with 11–10. Serbia had the last attack for the equalizer when unfortunate Prlainović hit the post with 14 seconds before the end of the game. On 10 January, Serbia defeated the selection of Montenegro with 7–6, in the second round of the Samaridis Cup. Although it was a preparatory match for the upcoming European championship, the players of both teams were not spared. Serbian team came out victorious mostly due to the excellent game with one player less, because the Montenegrins were able to implement only one of six attacks with a numerical advantage. This match was also special because Serbias Vanja Udovičić scored his 300th goal for the national team. On 11 January Serbia beat in the final round the local selection Greece with 8–3. They finished the tournament in the second place. The tournament winner on the Greek island of Chios was Montenegro, which beat Spain 10–6, and won the Cup thanks to better goal difference than Serbia. Slobodan Soro was named for the best goalkeeper of the tournament. Dušan Mandić scored his first ever goal for the national team.
On 25 December 2011, Serbia's water polo team was included in a humanitarian action "Bitka za Bebe" ("the Battle for the Babies") playing an exhibition match with the team of the Faculty of Organizational Scihences (FON), in Belgrade. Before the Serbian water polo team had joined the action, many other athletes were included. Among them was the best tennis player in the world, Novak Đoković, football and basketball players of Red Star Belgrade, and many other's. Proceeds from the ticket sales went to fund "Bitka za Bebe" and the money was successfully collected to purchase one incubator.