The Daily Mail is reporting that the Magpies have agreed to pay £22m for the 21-year-old after the English talent impressed during his loan spell at St James’ Park last season.
The same article states that Newcastle have already agreed personal terms with Willock as Steve Bruce looks to add some more firepower to his squad ahead of the 2021-22 season.
According to the same story, Mikel Arteta left Willock out of the Arsenal squad for their pre-season friendly against Tottenham Hotspur on Sunday ahead of the move.
The Daily Mail is tipping Willock to become the first major signing of Newcastle’s transfer window after a frustrating summer so far for Magpies supporters.
Willock scored eight goals in 14 games in the Premier League at Newcastle last season to build a promising reputation in the English top flight during the loan spell.