The 36-year-old has played in Australia and Thailand since leaving English football in 2008, following a brief spell with Blackburn.
Fowler was poised to join the new Premier League Soccer venture in India before the project ran into financial problems and on Thursday Blackpool confirmed he could be heading to Bloomfield Road after impressing boss Ian Holloway.
The latest development may have consequences on the Premier League Soccer (PSL) project in India, in which Fowler was sold to the Kolkata franchisee, namely the Camellia group, for £333,000, from a base price of £282,000, in the auctions held in the capital city of West Bengal in the last week of January.
The tournament, which was due to kick-off on Mar 24, had to be postponed due to the non-availability of suitable football grounds for the event and has led to doubts of whether it will go through at all.
Fowler previously tweeted earlier in February: “Ah well.. India looks like it’s cancelled, boots are clean and looking for a new place to play. #professionalnotamateur"
In a series of tweets on their official Twitter page, the club said: "Former Liverpool striker Robbie Fowler has trained with the club today with a view to signing a permanent deal.
"No deal has yet been agreed but Ian Holloway revealed in his press conference that the striker has impressed and is close to full fitness."
Blackpool face Hull on Friday night and the club distanced themselves from reports Fowler would sign in time to face a team managed by his former team-mate Nick Barmby.
They added: "Contrary to some reports, Fowler would not be available for Friday's game, should he sign a deal."