The 54-year-old played for the club for 17 years and won the Champions League three times as a player.
When he retired in 2001 he became the assistant boss under Carlo Ancelotti and has been in the role ever since, but now could be tempted to become a manager elsewhere.
Tassotti told Sky Sport Italia: "There is this possibility that I could go. There are many reasons to leave. Stories begin and at times they don't end. Let's wait and see what happens."
Milan face Sassuolo on the final day of the campaign.