The Yellow Canaries are keen on bringing in a replacement attacking midfielder to fill the void left by Diego Ribas who is all but certain to leave.
Siem de Jong is on the Istanbul giants shortlist but they are reported to be reluctant to meet his £6.75 million asking price.
Newcastle are in no hurry to sell the 27-year-old midfielder who still has another four-years remaining on his contract but there are concerns regarding whether he is keen on playing Championship football next season.
The Magpies were relegated from the Premier League last season. Fenerbahce meanwhile – finished last season as runners up – would be able to offer the Dutch midfielder a title run and Champions League football.
De Jong made a total of 23 appearances in all competitions for Newcastle last season providing just one Premier League assist.