The Buenos Aires team sees the 34-year-old as an ideal replacement for Juan Roman Riquelme, who left the club last week to sign with Argentinos Juniors.
Ronaldinho has endured a frustrating 2014, with poor form and injuries restricting him to just two matches for Atletico Mineiro in Brazil`s Serie A.
News of the possible transfer, initially broken on Argentine television, quickly became a hot topic on Twitter among fans in Brazil and Argentina Thursday.
Ronaldinho joined Atletico Mineiro in 2012 from their Brazilian rivals Flamengo. He has also represented AC Milan, Barcelona, Paris Saint-Germain and Gremio.