Signed in July 2025 on a five-year contract, the Croatia international forward arrived at the Estádio da Luz after a breakout campaign in Belgium.

Born in Austria to Croatian parents, Ivanovic started out at SVg Mayrhofen before joining the academy of FC Augsburg in 2016, where he progressed to the reserve side. In 2023 he moved to Croatia with HNK Rijeka, and a year later signed for Union Saint-Gilloise, helping the Brussels club to the Belgian Pro League title in 2024/25 and establishing himself as one of the division's most effective centre-forwards.

The move to Benfica followed, and he opened his account for the Eagles in August 2025 in a UEFA Champions League qualifying tie against Nice, going on to be one of the squad's leading scorers in his debut season.

He made his senior debut for Croatia in March 2025 against France, having previously represented his country at youth level.