Milo Đukanović was born in Nikšić on 15 February 1962, to Radovan and Stana Đukanović (). His given name is derived from that of a paternal relative who had fought alongside Đukanović's grandfather Blažo during World War I; the name was selected by Đukanović's paternal grandmother. Đukanović's paternal ancestors, members of the Ozrinići tribe who hailed from the village of Čevo, had settled in the Nikšić area following the Battle of Vučji Do in 1876. Prior to the birth of Đukanović's older sister Ana in 1960, Đukanović's father had worked as a judge in Bosnia and Herzegovina, before relocating to Nikšić with his family and taking up residence in the Đukanović family's ancestral village, Rastovac. Đukanović's mother was a nurse. His younger brother Aleksandar (Aco) was born in 1965. Đukanović completed his primary and secondary education in Nikšić, before relocating to Titograd to attend Veljko Vlahović University's Faculty of Economics. He graduated in 1986 with a diploma in tourism studies. Đukanović was an avid basketball player in his youth.