The 43-year-old has been out of work since parting with Bournemouth.
The team he has been in charge of twice for 11 years.
Becoming one of Newcastle United. Replaces Steve Bruce, who was recently laid off.
The latest from several media reports led by the BBC and Sky Sports have confirmed that Newcastle have reached a preliminary agreement with the Englishman. The news will take over the team with a contract for two and a half years and is believed to be in time for the job before the game against Brighton on Saturday.
Well-known journalist Fabrizio Nomano also confirmed that only some final details.
Eddie Howe has reached an agreement in principle on a two-and-a-half year contract with Newcastle.
Newcastle pushed to bring Unai Emery in from Villarreal earlier in the week as they look for a replacement for Steve Bruce. But Emery opted to stay at the Spanish club after talks with their hierarchy.
And documents were left. The talks were concluded after Newcastle failed to hold talks. With Paulo Fonseca and Unai Emery.