In political sphere he was a conservative liberal. He was one of the founders of the re-established Democratic Party in Serbia in 1990. After quarrels with party's leader prof. Dragoljub Mićunović, Nikola Milošević, together with a group of ten prominent members of the Democratic Party, established a new party – the Serbian Liberal Party. This party advocated liberal and anti-communist ideas and boycotted all elections during the reign of Slobodan Milošević (1990–2000). In 2003 Nikola Milošević became a member of the Serbian Parliament since the Serbian Liberal Party participated in December 2003 elections as a coalition partner of the Democratic Party of Serbia.