Milovanovic, 23, joined the Blues in June, going on to make five appearances.
A former Huddersfield Town and Norwich City youth player, he made his non-league debut for Kettering Town in 2021.
After a spell in New Zealand with Miramar Rangers, the Serbian midfielder returned to the UK in December 2022 to link up with Matlock Town, where he made 18 appearances.
He will go into contention to start in the Bucks' next fixture away at Chasetown on Saturday in the Northern Premier League.
Photo credit: Norwich City
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