While the Argentine has contributed 20 goals from 31 outings during a loan spell at Parc des Princes, it has been widely claimed that neither party will look to push through a permanent deal.
Despite Icardi still having over two years left on his contract at Inter, his parent club are expected to want to sell the 27-year-old at the earliest opportunity.
According to Corriere dello Sport, Milan are taking an interest in matters at their neighbours ahead of a potential bid for the attacker.
However, the report adds that Inter may demand in the region of £75m, a fee which is likely to be out of the price range of their fierce rivals.
Much could depend on whether AC Milan are prepared to sell one of their key men in order to fund a move for a proven centre forward - an area which will need strengthening if Zlatan Ibrahimovic opts against penning a new deal. body check tags ::