According to Argentine journalist Martín Arévalo, speaking on ESPN Argentina, AC Milan have presented a concrete offer to sign the 32-year-old midfielder, though the exact figures involved and the player's willingness to move remain unclear.
A return to Serie A would mark a fifth different Italian club for Paredes, who has previously played for Chievo, AS Roma, Empoli and Juventus during a long career in Europe. He returned to Boca Juniors, the club that gave him his professional debut, in the summer of 2025 for a fee of just under €3.5m, signing a three-year contract, and has since made 70 appearances and scored nine goals for the Argentine giants.
The rumour emerged as Milan wrapped up their pre-season tour in Indonesia, where the club unveiled its third kit ahead of Saturday's friendly against Chelsea.
New signing Gonçalo Ramos, one of the most acclaimed arrivals of a big-spending summer, addressed supporters at the launch event, as reported by Sky Sport.
"It's really nice to be here and feel the support of our fans: it's incredible," the Portuguese striker said. "I can't wait to play and to be able to compete.
"It's one of the biggest clubs in the world and I just want to play."
Ruben Amorim is set to field an unfamiliar three-man defence for the Chelsea friendly, with Lorenzo Torriani in goal behind Valeri Vladimirov, Koni De Winter and Sankhoun Diawara. Luka Modrić and Christian Comotto will form the double pivot in midfield, with Alexis Saelemaekers and Pervis Estupiñán providing width, while Christopher Nkunku and Rafael Leão support Ramos in attack.
Milan's coach has previously suggested squad "cuts" may follow the Chelsea game as the club looks to move on some current midfield options, a stance that could open the door for a deal like Paredes should the interest prove genuine.