The midfielder will remain in Serie A next season after West Ham were beaten in the race to secure a deal for the 29-year-old
The Hammers were reportedly keen on keeping hold of Nocerino for the 2014-15 campaign but Torino have dashed the English side’s hopes after they confirmed on Wednesday that they had agreed a loan move for the player for the next year.
"Adriano Galliani was very kind, he wished me good luck for next season," Nocerino told Milan's official website.
"I want to thank all the people of Milan, all the people who worked with me and all the Rossoneri fans. The human aspect at Milan really makes a difference."
Nocerino joined Milan from Palermo in 2011 but has gradually fallen out of favour at the club with new head coach, Filippo Inzaghi, deeming the midfielder surplus to requirements at San Siro.
Nocerino made 61 league appearances in two seasons - but only 11 last season - and the player will now be hoping to start afresh in his second loan spell away from Milan.
Torino finished seventh in Italy’s top flight last term and secured a place in the Europa League after Parma were not granted a licence to compete in European competition.