The 22-year-old has been on loan at Sporting CP, but was cancelled by mutual consent after just six appearances. The former Benfica man, who cost Liverpool £20 million back in 2014, has struggled to really prove his worth at Anfield, with this being the third time he has been shipped out on loan since the move. Markovic appeared 14 times for Turkish side Fenerbahçe before his move to Portugal.
Hull have scored just 20 goals in 22 games in the Premier League so far this season, with only Middlesbrough scoring fewer (18), and boss Silva will be hoping the Serbian international can add some much-needed firepower to his relegation-threatened side.
Markovic is already The Tiger's fourth signing of the January transfer window after Evandro joined on a permanent deal, and Oumar Niasse and Omar Elabdellaoui joined on loan deals. The former Partizan winger is expected to be in Hull's squad as they take on Manchester United in the second leg of the EFL semi-finals on Thursday night (26 January).