De Jong has managed just 26 appearances in two years for the Magpies.
The website suggests that the Eredivisie side are keen on a move for the 27-year-old midfielder and would like to unite him with his younger brother Luuk, who also endured an unsuccessful stint on Tyneside during a loan spell in 2014.
Persistent injury problems have limited De Jong to just 26 appearances in two seasons for the Magpies, and he has made just four league starts since his arrival in 2014 from Ajax.
The former Ajax captain starred for his side in his home country before trying his luck in England, and PSV hope that he will be able to recapture that form.
However, Goal claim they would want any deal for De Jong to be a loan move with an option to make the transfer permanent, rather than paying upfront for the midfielder.
That is - unsurprisingly - because of concerns that they hold over the midfielder's fitness, although it is thought that De Jong is now their primary attacking midfield target.
De Jong wants to play regular first-team football again, and he is unlikely to get that at Newcastle; not only has he struggled to prove himself due to fitness issues, but the signing of Mohamed Diame has increased competition for his central attacking midfield spot.
The report claims that PSV have already held informal talks with the player and his representatives, and this looks like a deal which could well progress in the coming weeks.