Taarabt claimed on Thursday that he prefers how Milan coach Clarence Seedorf uses him at the San Siro, compared to the roles he has been asked to play in England.
The 24-year-old has generally played as a left winger for Milan, which has allowed him to cut in on his preferred right foot to shoot and create.
"With this shirt I played for the first time at San Siro and in the (UEFA) Champions League," Taarabt told Milan Channel.
"We are in negotiations so that I can stay here and I hope to stay at Milan, as with this jersey I manage to give 100 per cent.
"In England I played behind the strikers but here at Milan I have a different role and I prefer it."
Taarabt has managed 14 appearances in all competitions since arriving at Milan in the January transfer window, scoring four goals in Serie A.
With two games remaining in the Italian top tier, Milan remain in the hunt for a UEFA Europa League spot for next season, as they trail arch-rivals Inter, who hold Serie A's final European qualifying berth, by three points.
Milan are set to travel to Atalanta on Saturday, while they will complete their campaign against Sassuolo the week after, and Taarabt feels Europa League qualification is 'still open'.
"Now we have to focus on Atalanta and Sassuolo, as it's all still open for Europe and we hope some other results are favourable towards us," the Morocco international said.
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