Croatia are nine points clear of their opponents and they will meet in Belgrade for only the second time since they became independent nations.
Serbia lost 2-0 in Zagreb and are now rank outsiders to challenge Croatia and Belgium for the top two places in Group A, but Mihajlovic is not prepared to give up hope as he sets up his team for what he concedes is a difficult challenge.
"I will fight until the last whistle," Mihajlovic said on story.rs.
"We know how to play and the less we are interested in how the Croats are going to play, the better.
"We will see if we will be good enough to carry out the work of what we need to do. They are eighth in the world at this time and have well-known players like [Mario] Mandzukic and [Ivica] Olic."
Belgium, already assured of at least a play-off spot, travel to face Scotland at Hampden Park.
Gordon Strachan's side have no chance of making the World Cup themselves but will want to impress in front of their home crowd.
Chelsea's Eden Hazard, who could miss the game with an Achilles injury, believes Belgium have the better players but knows Scotland in Glasgow will be a tough proposition.
"The Scots are eliminated, but they will not leave anything off the pitch," Hazard said, according to lalibre.be.
"They have in their group guys who play in the Premier League, but we are stronger on paper.
"They have a new coach and their style will probably be different. This is an important game, especially since it is Serbia versus Croatia at the same time."
The world's most expensive footballer could be on display in Skopje as Real Madrid's latest 'Galactico' Gareth Bale and his Wales team-mates take on Macedonia.
Wales coach Chris Coleman confirmed on Wednesday that his £85.3million winger could miss the game having yet to play any football so far this season.
But, if the former Tottenham man is involved, the challenge for the bottom team in the group will be greater.
Macedonia coach Cedomir Janevski admits the double-header against Wales and Scotland will be tough but his aim is to finish the qualifying campaign off the foot of the group.
"Before us are two very important but also difficult games," Janevski said.
"It resumes our battle for a better final position in the standings. We do have a chance for third place and that is good motivation for us.
"Our goal is to move up the table. Wales are a serious team, with exceptional quality and fighting spirit. They have a lot of players from the Premier League so we have to show them respect."