The Serbia international has featured 15 times in the league for Partizan this season, scoring six goals and racking up seven assists.
He moves to Signal Iduna Park on a four-and-a-half-year contract with Dortmund's sporting director Michael Zorc stating that the club believes Jojic has the potential to become a quality player.
"We are delighted to have in Milos Jojic a versatile midfield player with great development potential designed to complement our squad," he told the club's official website.
The 21-year-old moved to Partizan from Teleoptik in 2012 and has been a regular starter over the past two seasons.
Jojic has made one appearance for his national side, scoring on his debut in a 2-0 win over Japan in October.
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