Jovic has been linked with LaLiga giants Barca and Madrid after taking Europe by storm this season, scoring 25 goals in all competitions for Eintracht Frankfurt.
Only Bayern Munich star Robert Lewandowski (21) has scored more 2018-2019 Bundesliga goals than Jovic (17), whose two-year loan from Portuguese giant Benfica became permanent last week.
Eintracht is reportedly set to cash in on Jovic amid interest from Barca and Madrid, and 102-time Serbia international Milosevic, who hails from the same city – Bijeljina – as his countryman, insisted the 21 year-old striker is destined for greatness.
"Luka is very, very, very special. His capacity for scoring goals is incredible," Milosevic – now manager of Serbian side Partizan Belgrade.
"From any position and with any part of the body, he simply senses the goal. He is a natural-born killer.
"You cannot train some of those things. You have them or not. He will be one of the best strikers in the world in a few years, I have no doubt about it.
"He is still a kid. He is showing some incredible things."
Milosevic, who spent time with Real Zaragoza, Espanyol, Celta Vigo and Osasuna during his successful playing career as a striker, added: "Both of the big clubs would be great for him and he would be great for Barca or Madrid.
"It would be a good solution for any of those two clubs."
Jovic's goals have helped Eintracht to fourth in the Bundesliga – the final Champions League qualifying spot – as the German side prepares for a blockbuster Europa League semi-final against Chelsea.