Lingard, 22, has risen through the ranks at Old Trafford, but has gained experience by going out on loan to the likes of Leicester City, Birmingham City, Brighton and Hove Albion and, most recently, Derby County.
The England Under-21 international struck two goals in 15 games for the Rams, featuring regularly under Steve McClaren - who became Newcastle boss last week.
54-year-old McClaren left Derby in May having failed to take the Rams into the Championship play-offs, but landed on his feet by replacing interim boss John Carver at Newcastle.
The former England manager will now be looking to bring in new signings in a bid to prevent another relegation battle next season - and it's believe that Lingard is one target for McClaren.
A report from The Telegraph suggests that McClaren has already launched a bid to sign Lingard on a season-long loan deal, with United boss Louis van Gaal keen to see the attacking midfielder gain experience in the Premier League.
With Newcastle needing attacking reinforcements, Lingard could see plenty of first-team football on Tyneside, whilst the opportunity to reunite with McClaren could be appealing to the player as well.