Tosin Adarabioyo and Lloyd Kelly are both in Newcastle’s sights, but the club also want to improve their attacking options.
Olise, 22, has admirers at Newcastle and the Crystal Palace winger is aware of their interest in him.
He is expected to be key to Oliver Glasner’s plans at Selhurst Park next season and losing Olise would be a blow to the Austrian boss.
Olise scored twice in Palace’s 4-0 thrashing of Manchester United, while he scored and assisted in the 3-1 win at Wolves on Saturday.
Crystal Palace have Olise under contract until 2027 and Glasner will be hoping the winger’s head is not turned by the prospect of a move to St James’ Park.
