The midfielder’s future at Lazio has come under the scanner ahead of the transfer window due to interest from the Premier League.
Manchester United have been linked with an interest in him and his agent has claimed that the Red Devils are indeed keen to take him to Old Trafford in the next transfer window.
Juventus are also prepared to try and sign him this summer, but Lotito stressed that he is still not ready to sell the Serbian in the coming months.
He insisted that he does not feel the need to sell Milinkovic-Savic, but conceded if a big club come up with a good offer he is prepared to ask what the midfielder wants to do.
The Lazio president told Italian broadcaster Rai Sport: “Milinkovic-Savic is not for sale.
“In order for someone to buy, there is a need for someone to sell and for me, in some cases, human values come before economic considerations.
“If a big club come up with a big offer, I would ask him what he wants to do.
“In the past, I turned down an indecent offer of €140m to keep him.”
He will have two years left on his contract at Lazio in the summer and it could be the last chance for the club to get the top money they want from his sale.