Rodriguez’s fruitless stint at Goodison Park ended last year when he left the Toffees to join Qatari club Al-Rayyan.
The 30-year-old, who once won the 2014 World Cup Golden Boot for Colombia, could appear again.
The midfielder is said to have an annual salary of £6.5million and will become the club’s highest-paid player.
Gonzalo Higuain is currently Inter Miami’s top earner but the report says the striker is unsettled and could leave at the end of the season.
Phil Neville’s side are struggling in MLS this season, amassing 10 points from nine games, finishing 12th out of 14 teams in the Eastern Conference.
Another high-profile player who has been linked with a move to MLS is Zlatan Ibrahimovich, who played in the league for LA Galaxy between 2018-19.
“When I come back I might have my own club,” said the AC Milan forward when asked by ESPN about a return to MLS.
“Wherever I go, I’m the boss. So that will not change.”
MORE: ‘Completely wrong’ – Phil Neville slams Manchester United for not supporting former manager David Moyes
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https://metro.co.uk/2022/05/07/inter-miami-co-owner-david-beckham-targets-summer-move-for-james-rodriguez-16603292/ Inter Miami co-owner David Beckham is targeting a summer move for James Rodriguez