The 28-year-old ended his legendary eight-year association with Lazio to join Al-Hilal last summer for a reported £34m, and he has since recorded nine goals and five assists in 23 appearances.
However, according to Italian news outlet Il Messaggero, via The Sun, Milinkovic-Savic has informed some of his former Lazio teammates that he would "like to return" to the Serie A club.
Milinkovic-Savic is said to have expressed his desire to return to Italy when he met with the Lazio squad at Riyadh airport last weekend following their Supercoppa Italiana semi-final defeat to Inter Milan.
During his time at Lazio, Milinkovic-Savic scored 69 goals and registered 59 assists in 341 games for the Eagles, and the box-to-box midfielder helped the club win the 2019 Coppa Italia as well as two Supercoppa Italianas.
The Serbia international, who is under contract at Al-Hilal until June 2026, was previously linked with the likes of Manchester United, Arsenal, Chelsea, Real Madrid and Paris Saint-Germain before moving to the Middle East last summer.
Over in England and Championship club Leeds United are reportedly close to agreeing a new contract with Wilfried Gnonto.
The 20-year-old attacker has been linked with an exit from Elland Road ever since the West Yorkshire club were relegated from the Premier League last season.
Gnonto attempted to force an exit from Leeds last summer and went as far as submitted a transfer request in the hope of joining a club in the English top flight, but a transfer ultimately failed to materialise.
The Italy international has since apologised for his actions, but has struggled for regular game time under new Leeds manager Daniel Farke this season, chipping in with only one goal and one assist in seven starts and 14 substitute outings in the Championship.
West Ham United and Everton have both been credited with an interest in signing Gnonto, but according to The Athletic, the attacker is now close to agreeing a new deal with Leeds.
Gnonto has decided to commit his future to Leeds, who currently sit fourth in the Championship table, and is set to extend his current contract which expires in June 2027.
Staying in the Championship and Watford are reportedly close to re-signing striker Emmanuel Dennis from Nottingham Forest.
The 26-year-old scored 10 goals in 37 appearances during one season with the Hornets before moving to Forest in the summer of 2022 following their promotion to the Premier League.
However, Dennis scored just two goals in 27 games for Forest last season, before being shipped out on loan to Turkish club Istanbul Basaksehir, where he has been reduced to just eight outings this term due to injury.
According to The Athletic, Basaksehir have agreed to terminate Dennis's existing loan deal to allow him to re-join Watford on a temporary basis for the remainder of the season.
The Nigerian is set to undergo a medical within the next 24 hours ahead of finalising his return to Vicarage Road.
Watford's pursuit of Dennis comes after they allowed Rhys Healey to join fellow second-tier side Huddersfield Town on a permanent deal.