Milan Bubalo (, born 8 May 1990) is a Serbian footballer who plays as a forward.
Born in InÃÂija (SR Serbia, SFR Yugoslavia) he played with InÃÂija and Hajduk Kula in the Serbian SuperLiga before moving to Slovenian side Koper in summer 2012.
After playing for four years in Asia for Gyeongnam, Muangthong United, Pattaya United and BEC Tero Sasana, Bubalo returned to Serbian football, signing a two-year deal with Vojvodina.