Newcastle have agreed a fee of £22million with Arsenal for Joe Willock.
The midfielder has been heavily linked with a return to St James' Park after a superb loan spell in the second half of last season which included him scoring in seven consecutive Premier League games.
Willock returned to Arsenal for pre-season but he is now set to end his long association with the Gunners.
Newcastle have yet to agree personal terms with Willock, who was left out of the Arsenal squad for their pre-season friendly against Tottenham on Sunday.