On 19 July 2020, Kovač was appointed as head coach at Ligue 1 club Monaco. In his first game as Monaco coach on 23 August, Kovač secured a 2–2 draw after being two goals down against Reims. On 20 November, he managed to beat French champions and Champions League finalists Paris Saint-Germain 3–2 after falling behind 0–2. On 21 February 2021, he defeated Paris Saint-Germain once again, this time 2–0. It was the first time since March 2016 that Monaco managed to win at Parc des Princes. Kovač was subsequently widely praised by French sports media. On 19 May, Monaco lost 2–0 to Paris Saint-Germain in the Coupe de France Final.