They needed to win by two goals and led through Pape Abou Cisse's header.

Cristian Zapata scored an own goal to put Olympiakos 2-0 up but 110 seconds later he scored a header in the right net to give Milan the edge again.

But Konstantinos Fortounis' late penalty after Ignazio Abate's foul gave the Greek side the goal they needed.

They knock seven-time European champions Milan out on goal difference after they finished level on head-to-head. Had the visitors scored once more then Olympiakos would have needed to win by three because of away goals.

It is the first time Milan have been knocked out of a European group stage since the second round in the 2000-01 Champions League.

Elsewhere, Slavia Prague qualified for the last 32 after a 2-0 win over Group C winners Zenit St Petersburg. That result eliminated Bordeaux and FC Copenhagen.

Bayer Leverkusen sealed top spot in Group A with a 5-1 win at AEK Larnaca.

Olympiakos fans displayed this tifo during the game