Dazn says that Milan has offered to take the international attacker of Italy for season 2025/26.
Chiesa struggled for form and fitness in his first season in England, after he arrived at Liverpool at the end of August last year from Juventus on the Deadline Day.
A return to Italy could fit all parties, with Milan Chiesa guaranteed first team football without a European competition to navigate next season.
The prospect of Florian Wirtz who arrives from Bayer Leverkusen will make the first team opportunities even more limited for Chiesa if he stays with Liverpool.