Blackburn have finalised the signing of Ipswich winger Paul Taylor on loan for the remainder of the season.
Graham Dorrans has extended his loan stay at Norwich from West Brom for the remainder of the season.
The 29-year-old arrived on Wearside in January as manager Gus Poyet invested £3.2m in his services in the search for goals to keep Sunderland in the Premier League.
Although Sunderland avoided relegation, Scocco made only eight appearances and failed to find the back of the net.
His former club have been on his trail for several weeks and on Wednesday night concluded the deal.
"First of all, a fan of Newell's...welcome @nachoscocco32," the Argentinian club stated on social media.