But his £270,000-a-week Chelsea wages could prove a stumbling block in any potential deal.
The German forward has failed to hit the heights many hoped for when he made his £48million transfer from RB Leipzig in 2020.
His return of just ten goals in 56 Premier League appearances is well below the numbers expected.
But still desperate to be a success in England's top flight, the Mirror report he could join the Magpies on loan.
Newcastle boss Eddie Howe wants to land an attacker before the transfer window closes.
And Werner could be the ideal candidate to help fire the mega-rich Toon into Europe - although the report adds Chelsea would insist on an obligation to buy clause for next summer.
Werner is one of Chelsea's top earners on £270,000 per week - only Raheem Sterling, N'Golo Kante and Romelu Lukaku get paid more.
But Lukaku has also been shipped out on loan, returning to Inter after a poor first season back at Stamford Bridge.
Newcastle would be unwilling to pay the full £270,000 per week for Werner, though, which could scupper a deal.
The 53-cap international's former club RB Leipzig, where he scored 34 goals in his final season, are also understood to be interested in a loan move for Werner.
Like Newcastle, they would not cover his entire salary - but the attacker might be willing to take a pay cut of up to 50 per cent to seal a switch.
Chelsea and Leipzig are yet to agree on a loan fee, either.
Despite his low goals tally and knack of missing glorious chances, Werner remains a popular figure with boss Thomas Tuchel and Blues fans for his tireless work rate, battling qualities and refusal to give up.
However, he surprised his manager by revealing he would be "happy everywhere" and stressed he wanted regular football before the World Cup.
And should he head off, that would leave Kai Havertz as the only centre-forward remaining from last season.
Raheem Sterling has come in and has occasionally played up front for Manchester City in the past while Michy Batshuayi and Armando Broja returned from loans and are not expected to be first-choice starters.
Newcastle tried an ambitious double raid on Leicester for James Maddison and Harvey Barnes.
The £40m offer for Maddison was rejected, and were told it would take £50m to land his team-mate and fellow one-cap England international Barnes a week earlier.
Eddie Howe has already landed Sven Botman, Matt Targett and Nick Pope this summer but remained coy on further attacking signings.
He said on Friday: “Never say never but as the days tick by it is looking more and more unlikely.
“However, the most important thing is that we get the right players, not the speed that we get them in.”