The Tigers completed their first bit of summer business on Tuesday, making George Boyd's loan from Peterborough permanent ahead of their Premier League return.
Similarly to Boyd, Elmohamady had a successful loan spell at the KC Stadium last term, and now Steve Bruce hopes to take him from his former club Sunderland.
However, with interest elsewhere in the Premier League and Egyptian away on international duty at the moment, Bruce could be forced to sweat over the deal.
City's managing director Nick Thompson told the Hull Daily Mail: "We're in the process of negotiating a deal.
"We know where we stand with Sunderland on the price and now it's a case of agreeing a deal with the player and his agent.
"When it comes to a contract, Premier League expectations from players sometimes will not match up with our expectations. It's a case of talking and coming to a point where you can agree a reasonable position."
The 27-year-old made 41 appearances for Hull last season, scoring three times while on loan from the Black Cats.