Conte has been linked with a return to Italy - despite winning the Premier League title in his first season with Chelsea - and Moggi has backed the ex-Juve boss to be the perfect fit for the role at San Siro.
"Conte wants to return to Italy and Milan can be the ideal club for him," Moggi told Tuttojuve.com.
"If he were to win something with Chelsea this season too, his departure could well be possible."
During his time with Juventus, Conte won 102 times in 151 matches over the course of three title-winning seasons.
AC Milan have endured a poor start to the domestic campaign, with the Rossoneri currently sitting in seventh place in the standings.