With star striker Demba Ba widely tipped to leave St James Park in January, boss Alan Pardew is desperate to sign a new centre forward in the winter.
English newspaper Daily Express understands that the Magpies are weighing up move for Benfica star Rodrigo.
The 21-year-old, who began his career at Real Madrid, already have some Premier League experience, having scored 1 goal in 17 league matches while on loan at Bolton during the 2010/2011 season.
His performances during the loan spell at Reebok Stadium helped the player establish himself as a first team regular at Estadio da Luz, and he did well to score 13 goals in 29 league games for the club.
Rodrigo has been particularly impressive on international level, netting 12 times in 10 matches for Spain Under-21 side.