Žagubica is a village and municipality located in the Braničevo District of the eastern Serbia. It is situated in the geographical region of Homolje. The population of the village is 2,584 (2011) while population of the municipality is 9,855 (2022).

The Braničevo District is one of nine administrative districts of Southern and Eastern Serbia. It expands in the north-eastern parts of Serbia. According to the 2022 census results, it has a population of 156,367 inhabitants. The administrative center of the district is Požarevac.