The 42-year-old Montenegrin signed a two-year deal to replace Viktor Djalilov, who guided Pakhtakor to a second-place finish in the Uzbek League, the quarter-finals of the Asian Champions League as well as the Uzbekistan Cup last season.
However, the Tashkent club trailed Bunyodkor by 22 points in the league as their wealthy city rivals won 28 and drew two of their 30 league games.
But Radulovic, whose previous experience includes a spell as assistant Montenegro coach as well as managing the country’s Under-19 team, is optimistic Pakhtakor can take the fight to Luis Felipe Scolari, Rivaldo and company next season.
"There are many players that have great potential. The club is ambitious and wants to win," he told the club’s official website. "Pakhtakor are a strong side and I want to be successful with my new team. I hope we will do it together."
Vice-president Samvel Babayan believes the club have appointed the right man for the job.
"Miodrag has worked with Montenegro’s national teams and he has good experience of working with young players," he said. "We want to build a new team with our young footballers. I think he can help us to win all the tournaments in which we are participating. That’s why we appointed him."
Murad Ismailov and Grygory Kolosovsky will work as Radulovic’s assistants while Djalilov will retain a role within the club. Babayan also confirmed the club have signed Alexander Vostrikov and Mukim Toshmatov for next season.