That’s according to Dean Windass, who has been discussing the veteran midfielder’s future with Football Fancast.
Milner left his boyhood club as a teenager in 2004, after having made 50 appearances for the Whites.
Since his departure, he has gone on to become one of the most recognisable faces in English football, amassing three Premier League titles, a Champions League, and 61 caps for his country.
What’s more, the 35-year-old is still a regular in Jurgen Klopp’s Liverpool side, and has made 22 appearances in the top flight this term.
But despite all that, Windass believes that there is still a chance he will want to wind down his career back in Yorkshire.
The ex-Hull City striker said: “Being a local lad, would he go back to Leeds? Yes. To end his career.
“But does he want to go back as a squad player, because that’s what he’d be. Bielsa would he go, ‘come in, but you’re not going to play week in week out, but I need you in the changing room’.
Does James want to continue playing for another two seasons? If so, it won’t be at Leeds United. He’d get into any Premier League team outside the top-four because of his experience.
“I’ve known him for a long time, he’s teetotal the lad. You can tell by the way he’s lived his life and looked after himself.
“He might want to go back home to Yorkshire and enjoy his life, but he might want to go and play for another two seasons.”
Milner’s current deal at Anfield expires next summer, but Windass isn’t the only pundit to tout the idea of an exit before then.
Kevin Phillips has told Football Insider that he believes a departure could be on the cards.
Elsewhere, Leeds United would have to pay around £14.5 million for AZ Alkmaar midfielder Teun Koopmeiners this summer.
That’s according to Spanish outlet AS, who suggest that the 23-year-old could be available for around that price.
The Telegraph recently suggested that Marcelo Bielsa is tracking the player, who has 15 goals in 28 league outings this term.
We’ve gathered the best of the rest of today’s Premier League speculation below: