Thought by most authorities to be extinct, the Staro-Srpski Hrt is claimed by some to be a heavier variant of the Old Bosnian Greyhound, while others believe it to be much older than its Bosnian cousin, tracing its ancestry to the great sighthounds of Greece and India, but also to the mountain shepherd dogs and wolf-killers of Serbia. The Old Serbian Greyhound is also seen as the ancestor of the original Irish Wolfhound, taken to Ireland by the Celtic tribes from the Balkans. Unlike the lighter Bosnian Greyhound and the much smaller Croatian Greyhound, the Serbian breed was very tall, massive and powerful, but also quite aggressive and driven. Whereas its western counterparts were strictly hunting dogs, the Staro-Srpski Hrt was also a ferocious guardian and a celebrated war-dog, as well as a superb large game hunter and racing dog. Some fanciers believe that the breed was developed by crossing the Zhuyan, Sylvan and Sarplaninac dogs with the Greek Harehound, Russian Borzoi and Turkish Tazi, but other breeds have likely played a role in its development as well. During the late 1800's and the first part of the 20th century, the English Greyhound and the Russian Borzoi were occasionally crossed into the breed's bloodline, but by the end of the 2nd World War, the Old Serbian Greyhound became very rare and then soon after declared as extinct. Although the breed is said to no longer exist, there are periodical reports of surviving specimens in some parts of Serbia, Bosnia, Macedonia and neighbouring regions, but it is unlikely that these dogs are pure, even though they're oftentimes presented as such. The future might bring successful breed revival, but for now there are no known efforts and the Staro-Srpski Hrt is widely ignored, although it continues to live on in ancient Serbian warrior poems and songs.

The Old Serbian Greyhound existed in two main types, these being the smooth-coated and rough-coated varieties. The more numerous bearded type was reportedly very aggressive and was the favourite variety of the Serbian warriors, who employed its great power and drive in their conflicts, most notably against the Turkish invaders. Somewhat similar to the Irish Wolfhound in appearance, the Staro-Srpski Hrt is a deep-chested, broad-shouldered and long-legged breed, capable of great speeds, but not as fast as the Bosnian Greyhound or the modern sighthounds from around the world. Although it was primarily used to hunt wild boars, wolves, bears and deer, the breed was also a capable hunter of hares, foxes and other small game of the region. As is the case with most working sighthounds, including the modern English Greyhound breed, a variety of ear-types existed, including some erect-eared specimens, but also regional examples with cropped ears. In some areas, the tail was docked, to prevent it from breaking during work.

Regardless of coat type, the Old Serbian Greyhound was common in many colours, from pure white, yellow, fawn, red, grey, brindle and brown to various bicolours, such as white with darker patches, black-n-tan and grey with white markings. The average height is around 33 inches.