The move follows his failure to get his cabinet to reject closer ties with the European Union in the wake of Kosova's declaration of independence.
Kostunica, a moderate nationalist, has described the decision by EU states to recognize Kosova as illegal.
Serbian President Boris Tadic says
Kosova declared its independence from
The
The government in
It is unclear what it contains.
May polls?
Kostunica's Democratic Party of Serbia (DSS) split with its coalition partner, the Democratic Party (DS) of Tadic, over policy towards the EU in the wake of Kosova's independence declaration.
The outgoing prime minister has maintained that ties can improve only if the EU rejects Kosova's declaration of independence.
The DSS is backing a draft resolution from the opposition nationalist Radical Party, condemning the EU's 1,800-strong mission to Kosova as illegal and calling on countries to overturn their decision to recognize it.
But a number of pro-Western ministers have failed to support Kostunica's approach.
"The government of
"Such a government could not function any more," he said.
Kostunica said "we should return the mandate to the people" - and added that he had scheduled a cabinet meeting on 10 March to propose calling for early elections to be held on 11 May - the date for
No party has a majority in the Serbian parliament.
Serbian PM Vojislav Kostunica
BBC