Two age groups were determined for the Cenozoic granitoids in the Dinarides of southern Serbia by high-precision single grain U-Pb dating of thermally annealed and chemically abraded zircons: (1) Oligocene ages (Kopaonik, Drenje, A1/2eljin) ranging from 31.7 to 30.6 Ma (2) Miocene ages (Golija and Polumir) at 20.58-20.17 and 18.06-17.74 Ma, respectively. Apatite fission-track central ages, modelling combined with zircon central ages and additionally, local structural observations constrain the subsequent exhumation history of the magmatic rocks. They indicate rapid cooling from above 300A degrees C to ca. 80A degrees C between 16 and 10 Ma for both age groups, induced by extensional exhumation of the plutons located in the footwall of core complexes. Hence, Miocene magmatism and core-complex formation not only affected the Pannonian basin but also a part of the mountainous areas of the internal Dinarides. Based on an extensive set of existing age data combined with our own analyses, we propose a geodynamical model for the Balkan Peninsula: The Late Eocene to Oligocene magmatism, which affects the Adria-derived lower plate units of the internal Dinarides, was caused by delamination of the Adriatic mantle from the overlying crust, associated with post-collisional convergence that propagated outward into the external Dinarides. Miocene magmatism, on the other hand, is associated with core-complex formation along the southern margin of the Pannonian basin, probably associated with the W-directed subduction of the European lithosphere beneath the Carpathians and interfering with ongoing Dinaridic-Hellenic back-arc extension.