The 30-year-old full-back has two years left on his contract at Arsenal and has been playing more recently due to an injury to Takehiro Tomiyasu.
But Arsenal are believed to be prepared to move him on in the summer as Mikel Arteta is ready to look at different options in his position.
Soares has clubs chasing him but there is serious interest in him from the Premier League as well.
According to Italian outlet Tutto Mercato, Newcastle are interested in getting their hands on the defender this summer.
Eddie Howe wants to add more full-backs to his squad and Soares has emerged as a real option for the club.
The Magpies appreciate his versatility and his experience in the Premier League is also a plus point for him.
But it has been claimed that the first offer for Soares has arrived from his homeland Portugal.
Porto want to sign the full-back and have tabled a bid less than the €5m mark with the Gunners.
