Milan are waiting for the all-clear from AS Monaco to take Pietro Pellegri on loan with option to buy after agreeing personal terms.
According to Footmercato, Sky Sport Italia and Sportitalia, the former Genoa striker has accepted the move after his agent met with Rossoneri directors on Friday.
The proposal is to take him on loan for €1m with an option to buy at the end of the season for a further €6m plus performance-related bonuses.
The option could then become an obligation to buy after a certain number of appearances.
Monaco would also then be owed a cut of any future transfer fee should Pellegri leave Milan.
The forward is still only 20 years old, but cost Monaco €21m in January 2018 after becoming the youngest ever player to score a Serie A brace, aged 16 years and 184 days.
His career stalled in France also due to a series of injuries, including a groin tear that kept him out for the best part of a year.