Barcelona could buy back Gerard Deulofeu for a set fee of €12 million, the Spanish club's technical director, Roberto Fernandez, has said.
Deulofeu has made nine Serie A appearances for AC Milan since sealing a loan switch to the club from Everton in the winter.
His performances have earned him a call-up to the Spain squad under coach Julen Lopetegui, who was also his coach for Spain's under-19s, while Barcelona are keeping an eye on the 23-year-old's progress.
"He didn't play much at Everton while he's doing well at Milan and he's now even been called up to the national team," Fernandez told Spain's Cadena SER radio. "This is good news for us because we can buy him back for €12 million. It's good that we have this possibility."
After failing to break into the Barcelona first team after coming through their La Masia academy, Deulofeu was initially loaned out to Everton before spending a spell with Sevilla in 2014-15.
He then joined Everton permanently in 2015, but was unable to hold down a regular starting berth, leading to his loan to Milan in January.
He has scored one goal in nine appearances under Vincenzo Montella, becoming a regular for the Rossoneri and earning a recall to the Spain national team this week.
Deulofeu, returning to the national team since making his Spain debut in 2014, said in Tuesday's news conference: "I'm very happy to be back and I hope I can come more often.
"It's an honour to be here and the coach has given me confidence. I know he trusts me and I want to help the national team.
"Had I not gone to AC Milan and played regularly, I would not be here. Montella has been key. As soon as I arrived, he gave me minutes against Juventus."
Asked about the possibility to return to Barcelona this summer, he said: "I'm only thinking about the present. In football you have to forget the past, live the present and the future will come.
"I'm very happy in Milan. I hope to end the season in the same manner and whatever happens, will happen. It's obvious that it's beautiful to hear nice things. But I need to focus on what I have to do. To think further ahead would be heading in the wrong path."
Asked whether he would like to remain in Milan beyond this summer, he said: "Milan is a great club. You always want to be in a big club. But right now I'm on loan at Milan, Barca have an option to buy me at the end of the season and I cannot think too far ahead."
On how well he has adapted to Milan and Serie A, where he has started in eight league games, he said: "Things are going well for me. I'm doing a good job. I hope I can continue like this. I'm very happy with the confidence my teammates and coaching staff have given me."
ESPN FC's Spain correspondent Adriana Garcia contributed to this report.