The Rossoneri have opened up a four-point advantage over fourth-placed Fiorentina in Serie A and, although they cannot make third place their own mathematically on Wednesday night, victory would be a big step towards the competition which has given them much satisfaction in recent years.
"We now have match point against Pescara and, if we win there, we will make it," said their general manager Adriano Galliani to reporters.
"It's not going to be easy, though, because all of the games are difficult at this stage of the season."
Wednesday's match at the Stadio Adriatico is followed by an arguably tougher tie with Roma on Sunday, which could be even more decisive.
"It's definitely going to be important," added Galliani. "But I'm convinced that, if we win in Pescara, we will have a great chance of securing third, which is a fantastic result for us considering how we started with our first eight games.
"If we finish third now, then we'd be happy."
Pescara's relegation to Serie B may have been confirmed at the weekend, but they aim to go down with a bang.
The club are expecting their biggest crowd of the season at the Adriatico on Wednesday night as the fans turn out for their penultimate home game.
For Milan coach Massimiliano Allegri, it will be an emotional return too.
He was part of the Pescara side which gained promotion to the top flight in 1992, while he continues to hold the record for the most goals scored by a Delfini player in Serie A with 12.