The Argentine centre-back has reportedly refused to sign a new contract at Stadio Renzo Barbera, with his current deal set to expire in June.
Subsequently, he has been shipped out on loan to fellow Serie A side Sampdoria - with Milan thought to be interested in swooping for his signature at the end of the campaign.
Munoz has made 131 appearances and scored five goals during his four-and-a-half-season stay at Palermo.
The 24-year-old started his career with Boca Juniors in his homeland and has represented his country at Under-17 and Under-20 level.
'I love my job. I love being able to play this sport. In the end, there’s something addictive in winning for me' Alexia Putellas speaks about what drove her back from an ACL injury to lift the World Cup
Alexia Putellas: "We’re already the only club to have won the men’s and women’s Champions League, so the only thing even more historic to do than that would be to win it in the same season"
