The deal had been in the works for some time, but negotiations stepped up a gear after the Rossoneri qualified for the Champions League group phase on Wednesday night.
This Milan Channel celebrated the move by flashing this message: ‘Matri. Welcome back Alessandro.’
That’s because Matri grew up in the Milan youth academy before moving on to clubs such as Cagliari and Juve.
It is believed the deal was done for €11m, slightly less than the €12m asking price.
It is not clear when Giampaolo Pazzini will return from injury after his knee surgery in May which speeded up Milan's need for a striker
With Matri's arrival, Milan also loan Andrea Petagna to Sampdoria.
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