Serbia star Jovic joined LaLiga giant Madrid for a reported fee of €60 million ($97.8 million) after taking the Bundesliga and Europe by storm in 2018-2019.
The 21-year-old scored 17 Bundesliga goals and added another 10 during Eintracht's run to the UEFA Europa League semi-finals.
Eintracht made a significant profit on Jovic as it triggered a purchase option on his two-year loan deal from Benfica for a reported €6 million ($9.8 million) in April, after the forward struggled for game time at the Portuguese giant after his arrival from Red Star in 2016.
Eintracht has turned to another Serbian frontman, luring 19-year-old Joveljic from Serbian champion Red Star on a five-year deal until June 2024.
Joveljic, who was born in the same city as Jovic in Bijeljina, scored eight goals and tallied two assists in 17 matches last season.
He will also team up with Jovic during Serbia's Under-21 European Championship campaign in Italy.