The Viola boss says the club could be tempted to sell the player if one of his suitors were to make a sufficient bid
The Montenegrin was a transfer target for Juventus last year but the Bianconeri are set to face competition from Arsenal this time out.
And the former Roma striker says the club could be tempted to sell the attacker if the right bid comes in.
"You know Jovetic is a player with great talent who could have different ambitions," he told Tuttosport.
"So, I think, as president [Andrea] Della Valle said, there is the possibility of him leaving if we were paid properly. I'm aware of this."
Viola enjoyed an extraordinary season, finishing fourth and just two points shy of a Champions League berth but Montella feels it will be hard to make a European challenge next term.
"Next year it will be difficult to come third and maintain the trend of this season but I hope the fate of the end of this season, however, gives as more anger and ambition to achieve something," he added.
Fiorentina were robbed of a place in Europe's top competition by Milan on the final day of the season. A controversial Mario Balotelli penalty and a late Philippe Mexes strike saw the Rossoneri stage a late comeback against Siena, as they emerged 2-1 victors to seal third spot.