The 30-year-old spent four years at St James' Park between 2010 and 2014, impressing under former boss Alan Pardew.
However, following a fall-out with the then-manager, the France international ended up signing for Nice in 2015 via an underwhelming loan spell at Hull City.
Ben Arfa impressed with the Eaglets and was rewarded with a move to Paris Saint-Germain, but has since fallen out of first-team contention at the Parc des Princes.
According to Transfer Market Web, Newcastle are mulling over whether to bring Ben Arfa back to Tyneside to play under Rafael Benitez in January.
The Magpies currently sit seventh in the Premier League table.