The experienced Dutchman is leaning towards a new spell in Eindhoven if he is unable to commit his future to the Serie A champions
The 34-year-old is one of Milan's players who are entering the final months of their contracts, with the Rossoneri having stressed that they will not handle renewals before the end of the season.
A move back to PSV, where Van Bommel played between 1999 and 2005, has been mooted as the likeliest scenario if the Dutchman does not sign a new contract with Milan.
"I have got several options, but for me there are just two serious options: AC Milan and PSV," he told NOS.
"How big the chance is that I return to PSV? There is a chance, yes."
Earlier in the week, Van Bommel's agent admitted that the midfielder was willing to take a paycut in order to return to the Philips Stadion.
The Netherlands international signed for Milan in January 2011 on a free transfer after terminating his contract with Bayern Munich.