Milojević was born and raised in Belgrade, and started playing basketball for Beovuk. He was quite a dominant figure while playing in the youth system, once scoring 131 points in a single game, a still-standing record.
Professional career
His professional career began in 1998 with a YUBA League club FMP from the Belgrade suburb of Železnik. While playing a couple of seasons for the club Milojević became famous for his blue-collar and never-quit style of playing. He averaged a double-double in both of his seasons with FMP and won the leagueMVP award in 1999. In 2000, Milojević moved to the Podgorica-based Budućnost, where he won his first National Championship in 2001. He spent three more seasons there, improving his skills and his game every year. Already a dominating inside presence, he improved his three-point and free-throw shooting, an area in which he struggled a lot in the early years. While in Budućnost he won a couple more league MVP Awards, in 2003 and 2004. After averaging 20.5 points and 10.8 rebounds per game in the 2003–04 season, his third MVP season, Milojević signed with the three-time defending champion KK Partizan. Although Partizan underachieved in the competition, Milojević was his usual dominant self, averaging 20.8 points, 11.5 rebounds, and just over 3 steals and assists per game. He was also the key player for Partizan's other title rout in the domestic league, as they lost only one game during the playoffs. In the 2005–06 season, Milojević had another double-double EuroLeague season, scoring 16.4 points and grabbing 10 rebounds per game, also winning a couple of Player of the Week honors. From Partizan, Milojević moved to the Spanish side Pamesa Valencia, where he played two seasons, finishing his international career with the Turkish club Galatasaray Café Crown in the 2008–09 season. He moved back to Partizan in 2009, but soon decided to end his career because of a knee injury.
In October 2012, three years after retiring from the professional basketball, Milojević became the head coach of Serbian team Mega Vizura. In his first season with the team he had great success, leading his team to the semifinal of the Basketball League of Serbia, winning the place in the regional Adriatic League for the next season. In the team's first ABA League season, he led the team to 8th place with a 12–14 record. On 1 June 2020, he ended his tenure with Mega Basket. Over 345 games during eight seasons, he had a 173–172 record. Milojević got his first taste of the NBA through Summer League coaching stint in the 2018 season with the Houston Rockets. On 5 December 2019, Milojević was named an assistant coach for the Serbia national team.