On July 18, 2019 Panathinaikos have confirmed the signing of a three-year contract with Greek international for an undisclosed fee. The Greek midfielder began to get back on track his career with Omonia in the second half of the 2018–19 season, contributing with four goals and one assist in 18 Cypriot First Division matches. Kolovos commented on his transfer to Panathinaikos: "I am very happy to become a member of the Panathinaikos family. This is a big club. I want to remain healthy in order to help the team achieve its goals. For me, Panathinaikos represents a great opportunity, and I want to prove that I can play at this level knowing how large this club is. I thank Mr. Dabizas and Mr. Donis for their belief which they have showed in me. I also express my thanks to the supporters who have sent me welcoming messages over the course of the past two days."
