He was briefly Minister for Army and Navy between April and October 1934, and was appointed as senior member of the Military Council in 1935.

Milovanović was born in Šetonje in the Požarevac region of Serbia in 1874.

In August 1912, he joined a secret society called the Black Hand.

In 1922 he became the first assistant to the Chief of the General Staff of the Royal Yugoslav Army, Petar Pešić.

In October 1934, he was replaced by Petar Živković as Minister for Army and Navy after the assassination of King Alexander, as he was not considered strong enough to perform the role.