TEL AVIV, Aug 29 (Reuters) - Israeli champions Maccabi Tel Aviv have signed Serbia goalkeeper Predrag Rajkovic from Red Star Belgrade on a five-year contract.

"The significant investment we have made in such a young and highly-rated talent reflects our ambitions," chief executive Martin Bain told the club's website (www.maccabi-tlv.co.il) on Saturday.

"There were a number of top European clubs expressing interest in Rajkovic and we are delighted to have secured his signature."

The fee was undisclosed but Serbian media reports put it at three million euros ($3.35 million).

The 19-year-old won the 2014 league title with Red Star and captained Serbia to a shock Under-20 World Cup triumph in New Zealand in June.

Rajkovic also helped the Serbians to the Under-19 European Championship title in 2013 and made one appearance for his country's senior team in the same year.

He is seen as a long-term international successor to first-choice Vladimir Stojkovic who plays for Israeli rivals Maccabi Haifa.

Tel Aviv, coached by Serb Slavisa Jokanovic, have been drawn in the same Champions League group as Chelsea, Porto and Dynamo Kiev.

($1 = 0.8946 euros) (Writing by Zoran Milosavljevic; Editing by Tony Jimenez)