The new deal will keep the 32-year-old Slovenia target man at Cologne until the summer of 2014.
Cologne head coach Volker Finke told the club’s official website: “Milivoje is a valuable player. He scored 17 goals last season and netted 69 goals overall for our club.
“He is an important first-team player and we are delighted that he has signed a new deal with us.”
