Jovic, 21, has not had the smoothest of starts to life at Madrid and another injury could further disrupt the season for the former Eintracht Frankfurt star.
Jovic came off the bench in Saturday's 4-2 home defeat by Portugal, with the Serbian Football Federation (FSS) confirming his injury blow a day later.
Specifics relating to the injury were not revealed, with the FSS saying in a statement that Jovic exacerbated an unspecified issue he suffered before joining up with the national team.
Jovic missed a chunk of pre-season with an ankle knock, though it is unclear if the latest problem is connected.
He will not feature in Tuesday's trip to Luxembourg in Euro 2020 qualifying, while he will likely be considered a doubt for Madrid's visit of Levante four days later.