The 24-year-old Frenchman, who spent last season on loan at Tynecastle from Italian side Genoa, has signed a three-year deal at the KCOM Stadium with a one-year option.
Hearts were hopeful of securing the permanent signing of fans’ favourite Milinkovic after agreeing a transfer fee with Genoa. However, the player’s wage demands went way beyond the Capital club’s budget.
Milinkovic said: “I am very happy to sign for Hull City and I believe this is a very good opportunity for me. The Championship is a very big league and I am looking forward to training hard every day to be ready to play for this team.”
Tigers head coach Nigel Adkins said: “David is a talented, skilful player and we’re delighted that we’ve been able to bring him to Hull City when we know that a number of other clubs were also looking to sign him.
“He enjoyed a very good loan spell with Hearts last season and he will add a further goal threat and creativity to our squad.”