According to the Sun (via HITC), the Venezuelan striker has a £16.5m release clause in his contract which became active following the Baggies' relegation from the Premier League last season, with Newcastle prepared to meet that valuation in order to bolster their own frontline ahead of the new season.
Newcastle have reportedly reached out to West Brom over a deal for Rondon in recent days and the deal could now be set to go ahead, with the Sun claiming that the forward is 'poised' to complete his move to Tyneside.
The deal would be Newcastle's all-time record transfer, beating the record they set 13 years ago when Michael Owen joined the club from Real Madrid for £16m.
Newcastle manager Rafael Benitez is keen to add to his squad in the hope of securing another top-half finish next season and the signing of Rondon would represent a significant outlay by Magpies owner Mike Ashley, whom Benitez has reportedly demanded should spend more money this summer.
While Rondon's record of 28 goals in 119 appearances for West Brom is hardly the most impressive strike rate in English football, the striker has been commended for his workrate during his spell at the Hawthorns and has been consistently linked with moves to bigger clubs.
After beginning his career with Venezuelan side Aragua, Rondon has enjoyed a successful career in European football with the likes of Malaga, Rubin Kazan and Zenit Saint Petersburg. He signed for West Brom in 2015, scoring ten goals in his debut season in English football.