Nunez has scored 26 goals in 28 league appearances in Portugal this season and is expected to move on from Benfica in the summer to head to a bigger league.
Newcastle are keen to add a striker in the summer transfer window and they have been linked with preparing an offer to snap him up.
Manchester United, Arsenal and Atletico Madrid have also been credited with interest in Nunez.
There has been talk that Benfica want around €80m from his departure but it has been claimed that he is likely to leave for a lower figure.
The Uruguayan forward is expected to move on from Benfica for a fee in the region of €60m in the summer.
Talks have been taking place between his agent Jorge Mendes and his prospective suitors over a deal for some time.
Benfica are already working on bringing in a replacement with Stuttgart’s Sasa Kalajdzic a target for the club.
