The former Netherlands international replaced Massimiliano Allegri at the helm back in January and has since guided the San Siro side to eighth place in the table.
A number of recent reports suggested that the Dutchman could be on his way out again this summer despite the team's improved form in 2014, but Berlusconi says the board will discuss his future after the campaign has concluded.
"Seedorf has a contract with Milan for two more years," Berlusconi told Radio Capital .
"We will make a decision about his future together with the board at the end of the season."
Berlusconi then went on to stress that he has no intention of selling Milan any time soon amid rumours that investors from Singapore and China have registered an interest in buying the club.
"I do not think I will sell, in spite of a football team that faces many difficulties on the international scene where the protagonists are those who have Arabic money and it is difficult to compete against," he added.