Panthers chief Mick Leary confirmed a one-year, incentive-based deal was tabled to the former Newcastle centre during a recent meeting.
Tahu, 30, failed to agree a contract extension at Parramatta, after suffering allegations of racist abuse and was released in December.
”We had a talk with him and his manager last Friday and have made an offer,” Leary told the Sydney Morning Herald.
”We’re keen to sign him but at this stage I haven’t heard what he is going to do. I think there may be another club that is after him, too.”
He added: ”There is no time frame but I think it would be in his best interests to get back playing as soon as possible,” Leary said.
Tahu, who spend two seasons playing rugby union for the Waratahs and Australia, has been at the centre two high-profile race-related incidents.
In June last year Tahu sensationally walked out of the New South Wales Origin camp in protest at allegedly racist remarks made by assistant coach Andrew Johns.
But in November Tahu was accused of making a racist comment himself, against a 16-year-old rival player during a friendly knockout tournament.
He requested leave from Parramatta until February this year, but was released in December.