The 20-year-old striker will reportedly sign a five-year deal after Anderlecht accepted a bid, with a move potentially announced before next week.
Anderlecht striker Aleksandar Mitrovic will join Newcastle "in the coming hours", according to the player's agent.
The 20-year-old, who scored 20 goals in 37 Belgian Pro League games last season, has long been touted a target for Newcastle manager Steve McClaren, with a fee of 18 million euros ($20 million) mooted.
"The formalization of the transfer will be made in the coming hours," Pini Zahavi is quoted as saying by Sudinfo.