Born and raised in Serbia, Yugoslavia, attended High School of Industrial Design in Belgrade.
Studied painting at the Academy of Fine Arts in Belgrade where she earned a Masters diploma in 1992.
Immigrated to Canada in 1994.
Otasevic is actively exhibiting since 1996, and she has participated in numerous group exhibitions in Canada, USA and Middle East, and held six solo exhibitions.
Otasevic's main body of work consists of sculptural work, using various materials while presently working with reclaimed bricks.
She has succesfully completed several large-scale public art sculptural projects in Ontario.
Lilly is a board member of The Serbian Heritage Academy of Canada, and past executive member of the Sculptors Society of Canada.