Was born on 23.04.1882. in Velika Ruiska, Novi Grad.
After he finished Primary school, went to Sarajevo where finished Craft school and Gymnasium. After he finished six classes of Gymnasium, enrolled Theological school in Raljevo. In 1909. was set for a priest in Krajina`s village Rujnica.
In 1911. was chosen for honorary member of Church court in Banja Luka, and in 1913. was moved to Velika Kladusa. During the First world war, Karanovic was taken to Military prison in Banja Luka, because he was a member of Kocic`s group «Homeland». After the war, left church and the rest of his life spent in Sarajevo as ethnographer. Died in 1955.