Paločević progressed through OFK Beograd's youth system, making his senior debuts while on loan at Sinđelić Beograd in 2011. He also went on loan to Voždovac, before returning to OFK Beograd in early 2013. On 27 May 2015, Paločević signed a two-year contract with Vojvodina.[1] He was selected in the 2016–17 Serbian SuperLiga Team of the Season due to his performances in the process.[2]
In the summer of 2017, Paločević moved abroad and joined the Portuguese club Arouca.
In July 2018, Paločević signed a three-year contract with Nacional.[3]
In June 2019, Paločević joined South Korean side Pohang Steelers on a one-and-a-half-year loan.[4]
On 18 January 2021, Paločević signed a contract with K League 1 side FC Seoul.[5] On 24 July 2024, he left the club and was loaned to OFK Beograd.[6][7]
International career
Paločević made his full international debut for Serbia on 29 January 2017, captaining the side in a goalless draw against the United States.[citation needed]