The 32-year-old Argentinean has been training with the Millers for the last two weeks as he tries to seal a return to English football.
Boss Neil Redfearn, who knows Becchio from their time at Leeds together, has been keen to ensure the striker is fit, having not played a first-team match since his loan spell with the Millers in September 2014.
And Redfearn is now ready to strike a deal.
"We are constantly in dialogue with Luciano, he is here training every day with us," he said.
"We had a behind-closed-doors game and he looked strong in it, perhaps looked a little bit short of match fitness but that is to be expected, but he scored twice which is a good habit to have.
"We are getting Luciano to a point where he is in a good place and if we can do something that would be great.
"He is somebody that I have known for a long time. We know what he is capable of and I think he has got the bit between his teeth at this moment in time, he loves the game, he has missed being out there and this gives him a realistic opportunity to kick on his career."
