The 22-year-old forward was released from Czech Republic outfit FK Mladá Boleslav and signed a permanent deal with the Reds today.
Formerly of Chelsea's Academy, Lalkovic had loan spells away from Stamford Bridge in English football with Doncaster Rovers and Walsall.
Reds boss Danny wilson said, "Milan has a great pedigree and he adds pace and guile to our team. We're all looking forward to working with him."
