The Croatian international continues to be linked with a possible Ibrox departure as his form stays at the top level allowing him to score 26 Scottish Premier League goals in 32 starts since his move from Rapid Vienna.
Miller is confident that even if 'Gers decided to sell Jelavic for a nice sum, the playing group is capable of maintaining their position at the top of the SPL table and push on for a fourth-straight title.
"It would be a blow to sell him but Rangers have had to do that over the last few years when players who score goals have been sold," the Scotland star said.
"He's a fantastic footballer - not just a goalscorer. He brings the full package to Rangers.
"They should try all they can to hold on to him, especially with the form he's been in this season. I'm sure they'll do their utmost but circumstances could dictate. The good thing for Rangers is that he looks happy right now. I know that when I was scoring goals for Rangers I was happy.
"Even last season when I was sold I said that I believed Rangers would go on and win the league. It's never about one player, it's about the team.
"The players at Rangers know what it takes to win leagues and I'm sure if anyone goes the others will step up and score the goals to keep the title at Ibrox. There's no way they will want to lose Jelavic because he's a fantastic player but if that scenario did arise then I'm sure Rangers would deal with it."