Adriano Galliani, the club's vice-president, has admitted that the 27-year-old could be an option for the Serie A champions as he rules out moves for Kaka or Mario Balotelli
The Italian spent last season on loan at Juventus and is seemingly surplus to requirements at Anfield following the signings of central midfielders Jordan Henderson and Charlie Adam.
AC Milan vice-president Adriano Galliani has admitted that his club could be prepared to make a move for the 27-year-old.
"We could talk about Aquilani," he told Gazzetta Dello Sport.
"He’s a midfielder with the characteristics that we are looking for so, like with other players in his role, he could be of interest."
The Italian champions have been linked with a big-money move for a midfielder this summer, but former hero Kaka will almost certainly not be arriving due to his salary expectations.
"His wage is impossible for an Italian club," said Galliani.
Manchester City's Mario Balotelli has also been linked with a move to AC Milan, but Galliani has ruled out a move for the controversial striker.
He said: "Balotelli? If someone comes he will be a left inside midfielder, not a striker."