The 36-year-old defenseman is the team's first captain since 2011, when Bryan McCabe wore the "C" until he was traded to the Rangers in February.
"His depth of experience gives him a lot of knowledge that you have to go through things," coach Kevin Dineen said. "It's personality and what he can bring to the table for us as a group."
Jovanovski is entering the second year of his second stint with Florida. He spent his first four seasons in the NHL with the Panthers from 1995-99. He was traded to the Vancouver Canucks in 1999 and spent seven seasons there. He spent the next five with the Phoenix Coyotes before signing a four-year contract in July 2011.
"Being the captain of this team, I think it's special, especially the team that you're drafted by, started my career. To be able to lead this team, I'm honored," Jovanovski said. "As far as guidance and anything I can do to help the guys, I'm always here for them."