The 23-year-old plundered 26 goals and 8 assists in 35 Serie A games last season as he was pipped to the Golden Boot by former Manchest City striker Edin Dzeko.
It has been widely reported that the Italian international has an £88m release clause in his contract with the Turin-based club, though it is understood that this only applies to foreign clubs.
‘Sky Sports News’ reports that the player has told his current employers that he wants the move, with AC offering a player-plus-cash deal of £35m and M’Baye Niang and Gabriel Paletta, though Torino are holding out for more.
The same source claims that Torino would be more receptive to an offer of £53m with Niang, Paletta and midfielder Manuel Locatelli thrown in.
Belotti was linked with moves to the likes of Manchester United and Chelsea earlier in the window, but it seems that Milan will be his destination if he is to move this summer.
Fallen giants AC have already spent £160m on 10 players this summer as they look to re-establish themselves among football’s elite.