Miličević's younger brother is Tomo Miličević, who was previously the lead guitarist of the rock band Thirty Seconds to Mars. She immigrated to the United States at the age of five and was raised in Detroit, Michigan. Miličević was born in Sarajevo, SR BiH, SFR Yugoslavia (modern-day Bosnia and Herzegovina), to Bosnian Croat parents. Miličević had roles in films such as Vanilla Sky (2001), Down with Love (2003), Love Actually (2003), Just like Heaven (2005), Casino Royale (2006), Running Scared (2006), What's Your Number? (2011), and Catfight (2016).

Ivana Miličević ( Croatian pronunciation: born April 26, 1974) is a Bosnian actress and model based in the United States, best known for her starring roles in the Cinemax action-drama series Banshee (2013–2016) and The CW science fiction drama series The 100 (2018–2020).