Paloschi only signed for the Swans from Chievo in January on a three-and-a-half-year deal for a fee thought to be around £8million.
The 26-year-old Italian went on to score two goals in 10 appearances for the Welsh outfit.
On Friday, a statement on Swansea's official website said Paloschi had agreed to move to Atalanta for an undisclosed fee, with the transfer set to be completed on July 1.
Source : PA
Source: PA