The Moroccan spent last season on loan at the Britannia Stadium and enjoyed a relatively impressive campaign, the highlight of which came when he scored a spectcular goal to give his side a 3-2 win over Chelsea in December.
Hughes is keen to add another winger to his ranks but reports suggest that a move for Assaidi has stalled due to issues over fitness and the club's finances.
"We are where we are on that one," the Potters boss told The Sentinel. "Ideally, if we can do something then, yes, we will.
"He's someone we know and someone we know can have an impact so, yes, we would like to see if something can be done with Ossie but obviously he isn't our player and that means the ball is in Liverpool's court."
Hughes is pleased with Stoke's business so far this summer, which has seen them bring in Mame Biram Diouf, Phil Bardsley, Steve Sidwell and Dionatan Teixeira, though the former Manchester City and Fulham boss is eager to make further additions before the start of the new season.
"People are coming back from the World Cup so things can move on quite quickly," he added.
"We are still keen to add to the squad if the right quality at the right price is available but we are in a good place because of the early work already done."