The 24-year-old midfielder has three years left on his contract at Lyon, but it has been claimed that a parting of ways is on the cards this summer.
He has been heavily linked with a move to Newcastle, who signed his compatriot and former Lyon team-mate Bruno Guimaraes in January, and it was claimed recently the Magpies are making progress on a swoop.
Newcastle are looking to bring in more midfield reinforcements and Paqueta is a player that appeals.
And according to French sports daily L’Equipe, the midfielder has decided to move on from Lyon this summer.
The Brazilian is believed to be keen to take the next move in his career and head out of Lyon ahead of next season.
Lyon are also claimed to be prepared to move him on and believe this is the summer to cash in on Paqueta.
Newcastle are working on a deal but they are some way away from working out an agreement for his signature.
With both Paqueta and Lyon prepared to part ways, it remains to be seen whether an early deal for his departure can be agreed upon.
