The 30-year-old was in London earlier this week to discuss a deal with his former club, with new Cottagers chief Rene Meulensteen keen to bring back the American to help his side’s battle to avoid relegation.
With the MLS season now in its winter break, Dempsey has been given permission the Seattle Sounders – his club side in the States – to discuss a temporary switch back to England.
The former Tottenham man is open to a switch, with maintaining his fitness ahead of the World Cup next year a concern.
The move can only run for around three months, with the American soccer season set to kick-off in March.
Dempsey moved to Fulham from MLS side the New England Revolution in 2007, becoming a cult hero in West London.
He angered the side’s fans last year by pursuing a move to Liverpool, before eventually completing a switch to Tottenham.
His spell at White Hart Lane didn’t work out, and he transferred to Seattle over the summer.