The 28-year old started his career with the Teeside club, progressing through their youth ranks before cementing his name as one of the best strikers outside the Premier League during spells with Carlisle and Watford.
Whilst at Vicarage Road, Graham netted 41 times in 98 appearances, finishing Championship top scorer in the 2010/11 season with 24 league goals and cementing himself as a club favourite - a reputation which remains intact to this day.
A move to Swansea followed, before an elongated barren spell with Sunderland followed. A run of 13 games without a goal saw the Englishman join Hull City on loan, however his poor form continued - scoring only once in 18 games.
His reputation was partly restored in 2014, with an 18 game loan spell at Middlesbrough, in which he netted six times.
And now, with the goalscoring emergence of youngster Connor Wickham, it appears as if Black Cats boss Gus Poyet is willing to oversee Graham's exit from the club, with the Hartlepool Mail reporting that both Middlesbrough and Watford keen on his services as they search for a return to the Premier League.
The Hornets finished 2014 10 points off the play-off places, but have already started strengthening their squad for next season campaign. Centre-half Gabriel Tamas and Tottenham goalkeeper have already signed on free transfers, whilst previous favourites Daniel Tozser and Matej Vydra are set in talks with the club to return to Vicarage Road.
A return to Watford for Graham could be the move to reignite his goalscoring form, with a club that adores him the perfect platform to rebuild his career. However it does not bode well for Watford's current goalscoring hero.
Troy Deeney is expected to move on this summer, with two 20-goal seasons drawing attention to the Birmingham-born striker from the Premier League. Aston Villa and Burnley have announced an intention to secure his services, and a move for Danny Graham suggests the club are prepared to let Deeney leave.
Middlesbrough believe they are in the better situation to resign their loan star, with the player already settled in the area through his youthful ties to the North East.
Boro boss Aitor Karanka has consistently expressed his delight at Graham's ability, and has now revealed that the club would be willing to reclaim his services next season.
A return to the Championship would be the best move for Graham, as he looks to re-establish himself as a high-quality striker with a club searching for promotion. And if he does guide his respective club to the Premier League, Graham can experience top-flight football once again.