The Ajax defender was previously courted by Celtic, according to reports.
The Magpies are said to have expressed an interest in the past, along with Scottish champions Celtic.
However, Dijks was recently called into the Netherlands squad, and his rise to prominence could leave the Bhoys priced out of the running.
The 23-year-old was previously out of favour at Ajax, who sold him to Willem II in 2014 following a spell on loan to Heerenveen.
Having impressed in Tilburg, however, Dijks returned to the Amsterdam ArenA on a three-year deal last summer.
Dijks, who stands at a towering 6ft 4, can also operate at centre-back but has been used predominantly on the left this season - creating seven goals in 34 appearances.
Leicester's Christian Fuchs has impressed in Dijks' position this season and Newcastle, who've been forced to play winger Rolando Aarons there in recent weeks, may be the Dutchman's best best for first-team football.
Any move to Tyneside is likely to depend on which division the club finds itself in next season. The Magpies are currently 19th in the table with 10 games remaining - the first of which is ironically against Leicester on Monday.