Any arrivals at the club will, however, be dependent on players moving on first.
The former England boss was busy over the summer, as Mike Ashley loosened the purse strings and allowed his newly-appointed coach to splash the cash on a series of additions.
The majority of those were youngsters that the club hoped would make an instant impact, however that is yet to happen, with the Magpies currently sitting joint-bottom of the Premier League table after six games.
And McClaren is aiming to rectify that in January with even more signings, with his main aim to bring in players who have already played in the Premier League, have international experience and are over the age of 26.
QPR striker Charlie Austin is likely to be among those under consideration - a man who has been involved with recent England squads and one McClaren was eager to sign in the summer, only to be overruled by those higher up at the St James' Park chain of command - according to the Telegraph.
Arrivals will be dependent on sales
Any new arrivals on Tyenside will, however, have to be supplemented by sales of those currently at the club.
McClaren is reportedly keen to be rid of those he deems to have a poor attitude, flimsy commitment or a flaky mentality, which he believes to be the root cause of their current predicament.
Several of those signed for big money from France last season may be towards the top of that list after failing to impress, while the likes of Cheick Tiote are also likely to face uncertain futures.
For now, McClaren must find a way of making things work with the squad at his disposal, with defeat to Championship side Sheffield Wednesday in the Capital One Cup in midweek having further increased the pressure on his shoulders.