The Gazzetta dello Sport reported Thursday that Mihajlovic met with Milan president Silvio Berlusconi late Wednesday and that an announcement could come by the end of the week.
Milan will have to fire current coach Filippo Inzaghi first, although that move has been expected for months.
In his first season in charge, Inzaghi led Milan to a dismal 10th-place finish.
Mihajlovic announced on Monday that he was stepping down at Sampdoria after guiding the Genoa club to seventh. The Serbian clearly has bigger aims.
But as a former player for Inter Milan, and cohort of current Inter coach Roberto Mancini, Mihajlovic apparently needed to convince Berlusconi that he will be entirely dedicated to the ‘Rossoneri’.
The 46-year-old Mihajlovic took over at Sampdoria in November 2013. He previously coached Bologna, Catania, Fiorentina and Serbia’s national team. The Serbian was also a standout fullback as a player for Sampdoria, Lazio and Inter, known for his skill on free kicks.
Former Milan coach Carlo Ancelotti, who was recently fired by Real Madrid, rejected offers to return to the Rossoneri.
Struggling financially and with Berlusconi no longer buying the world’s top players, Milan has struggled for several seasons. Since winning Serie A in 2011, Milan has finished second, third, eighth, and now 10th — thus failing to qualify for Europe for a second consecutive season.
Milan has plans to build a new stadium, although nothing has been finalized yet.