I can't tell for certain but it looks to me like it could have been repaired once already with 5 minute epoxy.
Using aliphatic resin (Titebond, etc.) requires tight wood to wood contact, which you don't have here. Furthermore, if that's epoxy that I'm seeing in your photo, I'd say you have no choice but to glue it again with epoxy. If you do use epoxy, use the slow set stuff.
OR, you can clean everything up down to raw wood, redrill the hole larger, cut the existing dowel off and replace it with a larger dowel and use either Titebond or hide glue. However, shortening the neck will change your scale length and the saddle slot will either need to be recut or the bridge moved.
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