The West Ham-linked boss has made a move up the bookies' list.
There's been a strange shift in the betting odds of late with regards to the Newcastle United job.
Indeed, while Derby boss Steve McClaren remains the favourite to succeed John Carver (whether that is now or next season) and speculation remains rife that the Championship manager is set for St James' Park, another name has crept under the radar with bookmakers.
It's rather difficult to explain, in fact. Perhaps Derby's failure to make the play-offs and McClaren's continual dallying when asked about the Newcastle job have affected things, as the England boss is down to 1/4 on to get the job with sports betting website Oddschecker, as opposed to 1/20 before.
John Carver has struggled immensely on Tyneside and reports have suggested he could be replaced immediately. Moyes, meanwhile, has most recently been linked with West Ham, the Daily Mirror suggesting he is keen on a Premier League return.
For the Magpies, though, any Moyes future will surely hinge on whether they go down. The Scot would likely possess the skill to keep them in the Premier League - but would he want to join a Championship side?
McClaren remains the front-runner, of course, but West Ham-linked Moyes is suddenly right among the favourites with the bookies...
The Chronicle have reported that the Derby County head coach has turned down the chance to take over the Magpies this season, while Newcastle released a statement today saying Carver and the club remain fully focused on the job in hand.