The prop has played 185 first grade matches with the Bulldogs and Dragons after joining the NRL in 2012.
The club released the following statement on the matter earlier this morning.
“St George Illawarra have been involved in discussions with Dragons forward James Graham and his management regarding an opportunity for him to return to the English Super League with immediate effect,” the statement read.
“The Dragons will consider this option for Graham on the merit a replacement player is secured by the club prior to his release.
“The Dragons will be making no further comment regarding Graham at this stage.”
The 34-year old has played over 400 matches across the NRL and Super League combined.