The Germany International has found himself on the outside of manager Thomas Tuchel's plans and has had interest outside the club.
According to SPORT BILD's Head of Football Christian Falk, Eddie Howe's Magpies have staked interest in the former RB Leipzig star.
Werner impressed in the Bundesliga 95 goals in 159 appearances across all competitions for his former German side.
Since his move to the Premier League in 2020, he has yet to reignite the same form, only scoring 23 goals in all games over his two seasons with the outfit.
Chelsea are abundantly full of attackers, with only three positions in the starting 11.
Werner and Morocco International Hakim Ziyech have both found themselves on the outside this season, and with the recent signing of Manchester City sensation Raheem Sterling, a place in the team seems even more out of sight.
Chelsea have already seen the likes of Andreas Christensen and Antonio Rudiger depart to Barcelona and Real Madrid respectively, and getting the 26-year-old's hefty wages off the books could help sign a bigger name in defence.
Newcastle have yet to sign a forward this window, bringing in Burnley's Nick Pope, as well as Aston Villa's Matt Targett and Lille's Sven Botman.
Timo Werner could look to see a resurgence under Howe, with the Magpie's newfound buying power offering a project to get stuck into.
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