The 29-year-old's future with Watford remains uncertain, with rumours linking him with an exit from Vicarage Road refusing to go away.
Everton are leading the race to sign the striker, according to the Guardian, with Sam Allardyce looking for a more physical presence through the middle.
Interestingly enough, that is exactly what Rafa Benitez is looking for at Newcastle, and SkyBET list the Toon as joint 4/1 favourites in the race to sign Deeney.
The Watford man hasn't exactly been prolific for Marco Silva's side this season, scoring just two goals in 14 appearances in all competitions thus far, but it is his overall game, and the manner in which he brings others into play that impresses most about his game.
The 29-year-old would be the ideal strike partner for Dwight Gayle, and could potentially form a lethal little and large partnership with the Magpies forward.
With the January transfer window now open for business, this will be one for Newcastle fans to keep a close eye on.