Speculation about the 27-year-old's future has become a talking point in recent weeks as his hopes of a permanent move to the San Siro have receded.
The loan agreement with the Italian club stated if Aquilani made 25 appearances then it would trigger his automatic purchase for £6 million.
He is currently three short of that total with only five matches remaining and Aquilani has been substitute for the last four matches, not even getting off the bench in Wednesday's win over Genoa.
"If they don't activate the clause he will be back here," Dalglish said. "At the end of the day if they don't want him then he'll come back here as he's our player."