The Serie A giants revealed this in a statement on Friday, following a season marked by underwhelming performances.
Despite securing second place in the league, Milan trailed significantly behind champions Inter Milan and struggled in both the Champions League and domestic cup competitions.
“AC Milan extends heartfelt thanks to Stefano Pioli and his entire staff for leading the first team over the past five years, securing an unforgettable League title and re-establishing AC Milan’s consistent presence in the top European competition.
“Stefano’s professionalism and human touch have significantly contributed to the growth of the squad, embodying the club’s core values from day one,” the club said in the statement.
Pioli, who guided the Rossoneri to their first Serie A title in over a decade in 2022, joined Milan in 2019.
However, this season saw the seven-time European champions exit the Champions League in the group stage and bow out of the Coppa Italia in the quarterfinals.
Milan is set to face Salernitana in their last league game of the season on Saturday.
