The 28-year-old has struggled to challenge first-choice keeper Tim Krul at the North-East outfit, which has caused him to consider leaving at the end of the season.
"It's been really tough and I've been a bit frustrated," Sky Sports News quotes Elliot as saying. "I don't want to just get the tag of being a number two keeper.
"You get times when you think 'I need to play.' I love it at Newcastle but I want to play football. I hope it is at Newcastle but if it's not, it's not."
Elliot has featured for the Newcastle first team just 12 times after joining the club from Charlton Athletic in 2011.