Pato, also formerly of Milan, is currently playing for Tianjin Quanjian in the Chinese Super League having left Villarreal in 2017.
Italian giants Milan are aiming to resign veteran striker Ibrahimovic in the January transfer window, having spent the past season at LA Galaxy.
But should that move fail, Tuttosport say Milan will turn to 29-year-old striker Pato who spent six years at the San Siro.
Pato struggled to fulfil the lofty expectations put upon him when he left Milan in 2013.
But the Brazilian has scored 25 goals in 40 appearances in the Chinese Super League which has caught the attention of his former employees.
Pato spent one season in the Premier League when he was signed on loan by Chelsea from Corinthians in 2016.
He made just two appearances for the Blues but did get on the score sheet with a penalty in a 4-0 win over Aston Villa.
Milan, meanwhile, are currently fourth in the Serie A table and 10 points behind leaders Juventus.
They host Juve at the San Siro on Sunday having won their past three league games.
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