The 29-year-old joined the Black Cats from Brazilian side Internacional in January, but he failed to score in any of his six appearances before the end of the campaign.
That has resulted in speculation that he could be sold this summer and when asked whether Newell's - where Scocco started his career - would be interested in securing his return, Ricobelli provided a positive response.
"It is our wish to sign Scocco. Nacho has to report back for training in Sunderland," Ricobelli is quoted as saying by the Sunderland Echo.
"We have made some efforts, but he now needs to return to [Sunderland] so we can continue with talks and we will listen to whether Sunderland want to let Scocco leave. We have no problem looking at either a loan or purchase, as long as it is within the means of our club."
Scocco has been capped on one occasion by Argentina at senior international level.