The daily said that with a delay of 57 years, Mihailovic, the leader of the Chetnik Movement, will posthumously be given the award which Truman bestowed on him for rescuing 500 US airmen during WW II.
According to the paper, a US delegation will bring the medal to Belgrade during commemorative events marking the 60th anniversary of the defeat of fascism.
The paper reported that Truman's decision to award Mihailovic was kept secret as the US Administration "did not want to offend the then Communist authorities in Yugoslavia".
"As it is not yet known where Draza's grave is, it is also not known who will take over the medal, and who will be entitled to keep it," the daily said, speculating that Vojislav Mihailovic, a grandson of Draza Mihailovic, or Gordana Mihailovic, Draza's daughter, might inherit the medal.
The Serb Renewal Movement (SPO), whose senior official is Vojislav Mihailovic, asked the State Department 11 years ago that the United States officially confer the Legion of Honour.
Vojislav Mihailovic was quoted as saying that Serbia-Montenegro's Foreign Minister Vuk Draskovic, who is the SPO party's chief, asked Colin Powell the same thing last year.
The Chetnik movement became notorious for crimes its troops committed against anti-Fascist Partisan fighters as well as non-Serbs in Bosnia-Herzegovina and Croatia during the Second World War.