Kaka has failed to be a hit at Real Madrid after joining the Spanish giants from AC Milan.
The Brazilian star has recently been linked with a return to AC Milan as well as summer moves to the likes of Chelsea and Manchester City.
“Getting back with Kaka? We are here waiting with open arms,” Berlusconi told Gazzetta dello Sport.
“Of course we would be interested in him. He is as great a player as he is a great person.
“I have not talked about money. I haven’t spoken to [Milan vice-president Adriano] Galliani about this either.
“We know nothing [about the player’s situation at Real Madrid]. But we’re here with open arms.”