The England international midfielder will return to the USA at the end of the Serie A campaign and play perhaps 13 games in the rest of the MLS season.
The 33-year-old was expected to return to the American club on March 9 having arrived at the San Siro in January.
However, following some impressive performances from the former Manchester United and Real Madrid star, the Rossoneri were keen to keep him until the end of the season.
Apparently, the midfielder will return to the Home Depot Center in June and play the second part of the MLS season.
As part of the deal between the two parties, it is thought that Beckham will go back to Milan next year when the MLS season draws to a close, thereby keeping his chances of representing England in the 2010 World Cup in South Africa alive.
The Los Angeles Times reported that Beckham paid the majority of the fee to grant the loan extension and opt out from the last two years of his contract. The paper also asserted that AC Milan had raised their original contribution from the 3 million offered the Galaxy at first.
Ricky Brooks, Goal.com
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