The 29-year-old was heavily linked with a move to St James’ Park last month in the mid-season transfer window after losing his place to Aaron Ramsdale.
However, the window shut down with Leno still remains with the Gunners, but the former Bayer Leverkusen man now has less than 18 months left on his deal at the Emirates.
The German goalkeeper is expected to leave the north Londoners this summer and journalist Keith Downie claims that he could be a target for the Magpies.
“I could foreseeably see them, if they stay up, looking to bring in a new goalkeeper in the summer and changing things up in the goalkeeping department,” Downie told GIVEMESPORT.
“I think Bernd Leno is someone they would be interested in given his experience in the Premier League already.”
Leno has made seven appearances for Arsenal in all competitions this season.