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."
Despite the fact Liverpool will make a huge loss on a player signed for £16million in 2009 there is a need to trim the wage bill.
For that reason the future of another high-profile loan signing, Joe Cole, is also one which needs resolving.
The England midfielder has had a successful season on loan at French club Lille, where the Reds are subsidising his wages, but his weekly six-figure salary may prove prohibitive to a permanent move.