The Frenchman, 26, has made just eight appearances for the Black Cats since joining from Lazio at the start of the season.
Ulisse Savini now expects Diakite to leave the Stadium of Light in the coming days.
"Modibo could return to Italy in this January transfer window, there is a 50% chance," he told Tuttomercatoweb.
"Parma and Chievo are interested in him. But it is possible even he could remain in the Premier League, we are evaluating various options."
Diakite's last game for Sunderland came on the weekend during their 1-0 win over Kidderminster Harriers in the FA Cup fourth round.