The Ukrainian believes the club's hierarchy will ensure they don't suffer another disappointing season and feels that Clarence Seedorf has done well as coach
The San Siro outfit finished eighth in Serie A this term, missing out on a Europa League place on the final day of the season despite a 2-1 victory over Sassuolo.
Shevchenko has visited their new Casa Milan training base and the Ukrainian is confident that the club will be back at the top soon enough, particularly with a regenerated Kaka in the side.
"It's nice to come back to Milan," Shevchenko told Milan Channel.
"This new base is great. I had some excellent years here in this city.
"The team didn't have a great season but now it's finished. The club needs to look forward and I am sure that Galliani and the Berlusconi will do special things.
"I hope that Milan can become one of the big players in Italy and in Europe again.
"I've seen Kaka reborn, it's been difficult even for him this season but Ricky has played very well. We fans hope that he stays."
Shevchenko's former Milan team-mate Clarence Seedorf took over from Massimiliano Allegri as coach in January and the 37-year-old feels the Dutchman has done a fine job, despite speculation he could be fired.
"The club will decide soon about Seedorf," he said.
"I think that it's always difficult for a coach at the beginning but Clarence has done everything possible and he has done well. In some ways he has done extremely well."