Benitez, 56, left his position as Real Madrid manager in January, and with Newcastle desperate to stay in the Premier League, the Magpies turned to Benitez as a replacement for Steve McClaren.
Remarkably, the struggling Magpies managed to land Benitez on a three-year deal, though if Newcastle suffer relegation to the Championship, Benitez has a clause in his deal where he can leave Tyneside.
So far, Benitez has had a clear impact on the Newcastle side, and with four points picked up in the last two games against Swansea City and Manchester City, the Magpies are now just two points from safety.
Now, The Telegraph report that Newcastle will beg Benitez to stay even if they are relegated, though the Spaniard currently plans to leave if he fails to keep the club in the Premier League.
It's claimed that Benitez is currently excited about the project at hand, as he feels that Newcastle have the potential to emulate Tottenham Hotspur's success this season and qualify for the Champions League in the near future - but that's entirely dependent on survival this term.
Newcastle have certainly been sleep-walking through their recent seasons, and the appointment of a proven, world-class manager like Benitez is a huge step in the right direction, with the ex-Liverpool man the perfect man to help achieve the club's huge potential.
His continued excitement for the future at St. James' Park is an encouraging sign, but knowing that Newcastle could lose him if they drop to the Championship will be a worry for fans who have become all too accustomed to disappointment in recent years.
Do you think Benitez can keep Newcastle in the Premier League?