Veljko Ražnatović (Serbian Cyrillic: Вељко Ражнатовић; 1920–1986) was a Montenegrin Colonel in the Yugoslav Air Force.

[1] He is perhaps most remembered as the father of the mobster Željko "Arkan" Ražnatović, a paramilitary commander and head of the Serb paramilitary force called the Serb Volunteer Guard during the Yugoslav Wars.

[1] After the invasion and occupation of Yugoslavia, in 1941, he participated in the preparations for the armed uprising.

[1] He later served in Brežice, Zagreb and Pančevo and was commissar of the 37th Aviation Division until 1953.

He was married to Slavka (née Josifović; 1925–2012) with whom he had three daughters named Mirjana, Jasna and Biljana and a son Željko.