Guardiola resigned from the Barcelona managerial post in the summer after winning two Champions Leagues and three league titles in a four year spell in charge at the Camp Nou.
The 41-year-old announced Monday night that he is willing to make a return to coaching after a year-long sabbatical, reports Xinhua.
Berlusconi Tuesday hinted he hoped the Spaniard to take over from Massimiliano Allegri.
"I always tried to bring (Guardiola) to Milan because over the last (few) years Barcelona played the best football. We contacted him, but he said he wanted to stay in a sabbatical," said Berlusconi.
"He said that at Milan he'd have fun and felt admiration towards me, and appreciation for the Lake Como, where I could offer a beautiful villa.
"At this moment, I have to say the percentage for him to come to Milan is very low."