The 21-year-old Brazilian attacking midfielder has been attracting attention from some of the biggest clubs in Europe this year and it is likely he could be the subject of a transfer battle in the coming months.
Paqueta was previously reported to be a target for Premier League sides Chelsea and Liverpool, while the likes of Barcelona and Paris Saint-Germain are believed to have set their sights on a deal for him too.
Meanwhile, Milan and Juve have been on very friendly terms where transfers are concerned and completed some major business during the summer, with Gonzalo Higuain and Mattia Caldara moving to the San Siro. Centre-back Leonardo Bonucci also moved the other way, just one year removed from his shock transfer from the Turin based side to I Rossoneri.
According to Gianluca Di Marzio, both these Italian clubs are keen on signing Paqueta.
It is believed that a transfer would command a significant sum as the Brazilian side have set a €50m release clause for their player and simply meeting the clause might not be enough, given the widespread interest in the attacker's services.
Tuttosport are also reporting that Milan are bent on signing the impressive youngster, who is viewed as one of the biggest emerging talents in Brazil.
His style of play is said to be of particular interest to Chelsea and Liverpool as he is very energetic and has a knack for pressing opponents. Chelsea have employed a higher pressing style under new boss Maurizio Sarri, while Liverpool have been playing similarly since Jurgen Klopp took over at Anfield. And the player is considered to be ideal for both managers' systems.
It will be quite interesting to see how things pan out, given the rife interest in the exciting, young Brazilian. But it could all depend on where he wants to play.