The Swedish striker, 38, has been a revelation for the Rossonero since signing in January as a free agent after his departure from LA Galaxy.
But with his contract running to June, Gazzetta dello Sport says Ibrahimovic is leaning towards leaving the Italian giants.
Ibrahimovic is upset by the sacking of director Zvonimir Boban and will definitely cut ties should Paolo Maldini also be squeezed out. It was only the presence of the pair that convinced him to return to Milan.
In just 10 games, Ibrahimovic has scored four goals, but this now could be his last playing contract.