Steve McClaren is in talks about a return to Derby as head coach or manager just 17 months after he was sacked, BBC Radio Derby reports.
Nigel Pearson left his position as manager by mutual consent on Saturday after less than five months in charge.
Chris Powell, who has been in temporary charge, is expected to return to his role as assistant manager.
Former England boss McClaren, 55, left the Rams in acrimonious circumstances in May 2015.
Following constant speculation linking him with the job at Newcastle, McClaren subsequently joined the Magpies but was sacked in March 2016.
Pearson, who replaced Paul Clement as boss, was originally suspended by Derby pending a club investigation into his “behaviour” following a heated exchange with owner Mel Morris.
McClaren won just six of 28 Premier League games in charge of Newcastle, who were just one place off the foot of the table when he departed and they were eventually relegated.
He only spent two seasons with the Rams, leading them to Championship play-off final defeat by QPR in 2013-2014.
Derby lost 3-0 at home to Reading on the final day of the following season, meaning they missed out on the play-offs, and McClaren was sacked in the same month.
As well as coaching England from 2006-07, McClaren was previously manager at Middlesbrough, FC Twente, Wolfsburg and Nottingham Forest.
McClaren U-turn a ‘shock’
Analysis: BBC Radio Derby’s Owen Bradley
Shocked is an understatement considering the nature of Steve McClaren’s departure.
Though he was ultimately sacked, McClaren damaged lots of relationships at the club by never bringing to an end the links with Newcastle. In the eyes of some, that derailed Derby’s promotion campaign.
Mel Morris is a big fan of McClaren’s quality as a coach, but was part of the group that sacked him. If that relationship has been repaired then it will happen.