Josipovic denied a total of 46 clemency appeals.
The president made his first pardon decision in mid-July, and it was published in the Official Gazette on Wednesday.
In July, Josipovic appointed a six-member Pardons Commission to be chaired by law professor Vladimir Ljubanovic.
The other members are psychiatrist Dragica Kozaric Kovacic, special education teacher Ljiljana Miksaj Todorovic, women's rights activist Neva Toelle, former Supreme Court judge Branko Zmajevic, and a state secretary at the Interior Ministry, Vladimir Faber.
Josipovic's predecessor Stjepan Mesic granted more than 760 of 4,650 clemency appeals.