Pato has struggled to break into the Milan first-team this season after recovering from long-term injury, making just seven appearances, scoring two goals.
The 23-year-old's situation at the San Siro appears to have caught the attention of a number of clubs, including those from England.
Chelsea are one side believed to be interested in the frontman while a swap deal involving Manchester City striker Mario Balotelli was also mooted earlier this month - though that was swiftly denied by Milan president Silvio Berlusconi.
Pato himself revealed last week he may consider a January move away from the club in order to find more first-team football, sparking rumours of a potential loan switch to Brazilian sides Atletico Mineiro or Corinthians.
However, the striker's agent, Gilmar Veloz, has dismissed talk of a temporary move back to Brazil and insists his client is happy to stay at Milan.
"Pato is doing well in Europe, he doesn't need to return to Brazil," Veloz told O Tempo. "He has 18 months left on his contract; it's unthinkable that an expensive player like him would be loaned out."
Regarding any other potential transfer deals, he added: "I can't talk about something that doesn't exist. Nothing about that came to me.
"When there is something concrete, we can talk. But right now, he is happy at Milan."