The one-time Spain international joined AC Milan from the Reds in 2015 and has gone on to score 14 goals in 72 appearances for the club, and the Rossoneri have now insisted that the 24-year-old is not for sale.
"Milan were very clear with Suso in the summer - we're not selling you even for €80m," read a statement on the club's official website.
"That was how the outstanding Spaniard was convinced in September to sign a new contract in what was a very important operation for Milan.
"All the Rossoneri players mentioned today and these days as potential transfer targets are absolutely part of the project, from [Lucas] Biglia to [Nikola] Kalinic and [Manuel] Locatelli.
"It is so, compact and confirmed, that Milan resumes today to train for the upcoming races against Cagliari, Lazio and Lazio in the Italian Cup."
Suso joined Liverpool as a teenager in 2010 but made just 21 first-team appearances for the club before leaving.