The Gateshead-born frontman has been without a club since leaving West Bromwich Albion at the end of last season and was linked with a move to Wolverhampton Wanderers last week.
However, the Premier League club are set to sign former Diego Costa after a successful appeal against a decision against granting a work permit for the former Chelsea striker.
Reading have now reportedly taken advantage of that move by persuading Carroll to the return to the club where he scored two goals in eight appearances last season.
The 33-year-old opted to join West Bromwich Albion in January but revealed his gratitude towards the Royals for making him ‘appreciate’ football following his departure from Newcastle during the previous summer.
Speaking in the West Brom matchday programme after his move to The Hawthorns, he said: “It’s been a bit of a weird season but I think after not being involved with a club at the start of the season, when I went to Reading, I appreciated it a lot more.
“When I left Newcastle and had time in the summer with the family, I realised being around the game was something I’d really missed.
“Obviously I had a good time with my family but it got to a point where I joined Reading and realised how much I’d missed being around everything.”
The Reading Chronicle have now reported Carroll will train with Paul Ince’s side on Monday and could make his debut after the international break.