The 22-year-old striker will miss the LaLiga game against Villareal this weekend.
Jovic scored twice on international duty for Serbia on Wednesday in a 5-0 thumping of Russia.
He played the full 90 minutes of the Nations League triumph.
Eight days ago Jovic also played and scored in his side’s heartbreaking penalty shoot-out loss to Scotland that meant they failed to qualify for next summer’s Euros.
Real Madrid released a short statement.
It read: “Real Madrid CF would like to inform that our player Luka Jovic has given a positive result in the Covid-19 tests carried out on Friday morning.”
The news comes as team-mate Eden Hazard returned to training after coming out of quarantine following his own diagnosis.
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