Boban, who played for Milan between 1991 and 2001, told Football Italia: "The favourite for the Scudetto is still Juventus.
"Milan have taken a lot of good players, but no superstars. It won't be easy to win with so many new players, but I hope I'm wrong.
"Milan was the best team I played for, there were the three Dutchmen, [Ruud] Gullit, [Frank] Rijkaard and [Marco] Van Basten; but also [Jean-Pierre] Papin, [Dejan] Savicevic and Boban.
"Then there were the best Italians of that era, [Franco] Baresi and [Paolo] Maldini."
Milan finished in sixth place in Serie A last season and are currently fifth in the table.