The Marseille striker has been heavily linked with a Premier League switch in the past, having also attracted admiring glances from the likes of Everton and Fulham.
Gunners boss Arsene Wenger was previously credited with an interest in bringing the France international to the Emirates Stadium, but chose to sign Olivier Giroud from Montpellier instead.
Meanwhile, Manchester United had also been monitoring the 27-year-old's development in Ligue 1, but never firmed up their interest in enticing Gignac to Old Trafford.
Now the imposing centre forward looks finally set to seal a move to England, but it will be Newcastle - not Manchester United or Arsenal - who are ready to take a punt on the player.
Chief scout at St James' Park, Graham Carr, has been watching Gignac closely in recent months, and is understood to have been impressed by his power and cutting edge, in addition to an impressive return of 18 goals in 37 appearances last season.
Gignac actually signed for Marseille for £15million in 2010, but now looks set to leave Stade Velodrome for a cut-price deal.