Torres has endured a difficult time with the Blues since his then-British record �50 million (63m euros, $82.9m) move from Liverpool in January 2011.

The 30-year-old Spain international was unable to repeat his prolific Liverpool form in west London and has scored just 45 goals in 172 appearances in all competitions for Chelsea.

He was believed to be Blues boss Jose Mourinho's third-choice striker behind new signings Diego Costa and Didier Drogba this season, and that drop down the pecking order has persuaded him to consider Milan's offer.

"Chelsea Football Club and AC Milan have agreed terms for the two-year loan deal of Fernando Torres to the Italian club," a statement on Chelsea's website announced.

"The move is now subject to Fernando agreeing personal terms with AC Milan and passing a medical examination."

Milan made their move for former Atletico Madrid star Torres after selling Mario Balotelli to Liverpool earlier this week.