Born in Aranđelovac, SR Serbia, SFR Yugoslavia, Milojević played as an attacking midfielder for both major clubs in his country, Belgrade's Red Star and FK Partizan, winning the 1988–89 Yugoslav Cup with the latter and scoring in the final against Velež Mostar, a 6–1 win.
After one season with Brest where he was relegated from the Ligue 1, Milojević moved to Spain where he would spend the better part of his remaining career.
[1] Milojević then registered an impressive average of 19 goals per campaign in the second division, although Mallorca never promoted in those three years.
[1] He returned to the top flight in 1995 with Celta de Vigo, then re-joined former side Mérida in the second level, appearing rarely as they promoted to division one for the second time in their history.
In the beginning of the following decade he took up coaching, managing FK Železnik,[2] Rudar Pljevlja,[3] Radnički Obrenovac[4] also taking charge of Spanish side Mérida UD, who rose from the ashes of his previous club, folded.