Milenkovic led his nation to an impressive draw against Euro 2024 champions Spain in what was an unexpected result for his nation.
Aleksandar Mitrovic, Sergej Milinkovic-Savic and Dusan Vlahovic all declared themselves unavailable for international duty which left Milenkovic as the only suitable option to become the leader of the side.
Head coach Dragan Stojkovic spoke on his decision to give the 26 year old the responsibility.
"I am glad I decided to make him the captain,” He said. “He fully justified the role.”
Milenkovic described it as “the crowning glory” of his career and said ,"The armband represents a great honour and obligation.”
Serbia face Switzerland next month as they look to build on their Spanish draw in what is a tough Nations League group.