The Northern Echo have reported that the Magpies are to make a final £10million offer for the Norwich City winger - with the Chronicle now claiming Murphy has stated his intention to join Newcastle.
Murphy scored nine times in the Championship last season - including two against Rafa Benitez's side - and then impressed for England at the U21 European Championships.
Unsurprisingly, that looks to have led to Premier League interest, but Palace have reportedly come up short in their bid for the 22-year-old.
Sammy Ameobi has been released, while Yoan Gouffran is yet to sign a new deal, and the Daily Mail reported blows in bids for Sheyi Ojo, Jesus Navas and Adama Traore on Monday.
That report explained that Benitez was becoming frustrated by Newcastle's slow progress, but a successful negotiation with Norwich for Murphy could offer some relief.