The Dragons confirmed on Thursday they were considering granting Graham a release to return to the English Super League.
"The Dragons will consider this option for Graham on the merit a replacement player is secured by the club prior to his release," the club said in a statement.
It's understood Graham only approached Dragons management on Wednesday afternoon and if he did return home it would be to his original club St Helens.
The ball-playing prop played 224 games for the English club before leaving for the NRL and Canterbury at the end of 2011.