Inzaghi helped the Rossoneri to two of their seven European Cup triumphs during his spell as a player at the San Siro, but Milan finished eighth last term, meaning that they missed out on a place in European competition for the first time in 16 years.
Inzaghi has urged his side to return to European football this season, while also encouraging them to treat the Coppa Italia like the Champions League.
"Milan cannot remain out of Europe," Inzaghi told Gazzetta dello Sport. "Therefore, we must first do better than last year and then earn qualification for one of the European cups. We'll see which one it will be.
"But this year the Coppa Italia is our Champions League. This must be clear. Winning a trophy is always important, now more than ever."
"I hope to have time to work quietly and calmly to restore Milan to its usual level. I am ambitious. We will be back on top soon."