The midfielder could well have been the first major signing under their Qatari owners only for a move to fall through three years ago
The 24-year-old joined the San Siro outfit on loan from QPR in January and made Serie A starts against Napoli and Bologna before making his Champions League bow against Atletico Madrid on Wednesday.
However, things could well have been different for Taarabt, who held talks with PSG in the summer of 2011.
"I was the priority of the Qataris [PSG owners]," he said. "They had met me before all the other players who have signed.
"They wanted me to sign. But I think that Leonardo (director of football) had other priorities.
"I suffered from this transfer failure, I suffered a lot. In my head, I was in Paris, a big club, I was going to play the Champions League.
"And then you leave again at QPR...I spent a year of misery. It was hard. But I'm glad to have rebounded to AC Milan."
Despite a 1-0 defeat in the Champions League round-of-16 first-leg clash, Taarabt claims he is living the dream in Italy.
"I have spent here the best 10 days of my career,” he told RMC Sport. "I have trained three times with the team and played in a wonderful stadium like that at Napoli. Then, at home to Bologna in another magnificent stadium. And then on Wednesday I played my first match in the Champions League.
"It has been a dream for me. When I signed up, I always said that I believed in my qualities and I thought I had everything to play for Milan.
"It is true that this has surprised people because I did not play at Fulham, but now I am here. I am making my way and will try to earn a place in Milan.
"This week was my first match in the Champions League and I played in the last 16. I could not sleep that night."