Younis, who resigned as bowling coach last year after a public spat with former PCB chairman Nasim Ashraf, has cordial relations with current chairman Ejaz Butt and is also very close to PCB Manager Yawar Saeed, one source claimed.
The offer could be made in Abu Dhabi as Younis is there as a commentator and Butt and Yawar were also there to watch Pakistan's one-day series against the West Indies.
"Waqar and Yawar are very good friends and the Pakistan manager would definitely like to see the former captain back as bowling coach," one source said.
"There is every likelihood of a meeting being arranged to decide whether Waqar can take up the bowling coach role soon."
Younis, who retired in 2003 after the World Cup, was team's bowling coach for a few months but when PCB refused to send him for the 2007 World Cup, he resigned.
The former paceman however, had recently said that he was ready to come forward again if PCB wants his services.
"There is a possibility that before the Test series against India in January, the Board will appoint a full-fledged support team to work with chief coach Intikhab Alam," one source said.
The source added that in all likelihood, Younis will be appointed the bowling coach, Ejaz Ahmed as fielding coach and former Test opener Shoaib Mohammad will be hired as the batting coach.