The 33-year-old was recently released by the Baggies after spending one season at The Hawthorns.
The Uruguayan international spent three years playing for Sao Paulo before moving to Fenerbahce in 2006, and the South Americans are now keen to bring him back.
"The fans have been asking and I would like to have Lugano back too," Aidar told TV Gazeta. "I think we have a chance since we have the approval of [manager] Muricy Ramalho."
Lugano scored one goal in 12 appearances for West Brom during the 2013-14 campaign.