Park has reportedly been told he can leave QPR just 12 months after moving to Loftus Road on a two-year contract from Manchester United.
He made 25 appearances for QPR, but is now being lined up for a return to PSV, where he spent two years before his 2005 move to Old Trafford.
The South Korean played alongside Cocu at Philips Stadion and the PSV boss feels the 32-year-old's experience would be a valuable addition to his squad.
"Park is a player with a lot of experience after all those years at Manchester United," Algemeen Dagblad quoted Cocu as saying.
"Added to that, he has already played here and knows the club.
"The guys who now play for us up front are very talented, but they can also gain from someone who has already played at the top level for a long time."
Reports in Holland claim Park has already undergone a medical, but personal terms are yet to be agreed, with PSV rumoured to be offering a two-year deal.