The Venezuelan scored 10 times in all competitions last season in a relegation battle, the same as Newcastle's top scored, Ayoze Perez.
This deal would represent a successful window for Newcastle as Benitiez is operating on limited funds and still wants to sign Chelsea's Kenedy.
If a deal with Rondon and the Midlands club cannot be reached, Newcastle have been linked heavily to two other frontmen.
Danish striker Nicolai Jorgensen is believed to be available for about £15m this summer after Newcastle had a bid for him rejected by Feyenoord in January.
Jorgenson, 27, has just returned from the World Cup in Russia where he missed a penalty in the shootout as Denmark were eliminated by Croatia.
Also, links between the Magpies and Alassane Plea are constantly being made, with a £20m move believed to be on the cards.
Plea, 25, scored 25 goals last season in Ligue 1 for Nice and would represent a serious show of intentions from Benitez to push Newcastle away from relegation fears.
However, any deal is going to be hard to push through with Mike Ashley with uncertainties remaining over the future of both Ashley and Benitez in the north east.
Benitez is looking to fill the three holes left by the sales of Mikel Merino to Real Sociedad, Aleksandar Mitrovic to Fulham and Chancel Mbemba to Porto.