The bomb went off under the window of Mihailo Jovocic, editor-in-chief of the daily Vijesti, the newspaper reported Friday.
None of the 15 people in the building in Podgorica was injured, but basement rooms were destroyed and windows were blown out.
Security cameras captured the image of a man whose face was concealed by a hood place the device and leave. The blast occurred about 90 seconds later.
The newspaper's offices and staff members have been attacked several times since the summer of 2011, when several company cars were set on fire. A bomb was set off in front of the house of a Vijesti journalist in August. Another journalist, an editor and the newspaper's director have been attacked physically.
Rosie O'Donnell unveils nearly 50-pound weight loss
Members of Congress to keep receiving porn magazine