Last summer, Newcastle were interested in adding the 21-year-old to their set-up but failed to do so.
The Magpies have kept their interest in Ashby intact in the ongoing transfer window and want to bring the West Ham youngster to St. James’ Park.
Ashby has a contract with West Ham that ends at the end of this season and the Hammers are willing to cash in on the right-back.
Newcastle submitted a bid for the 21-year-old earlier in this month but it fell below West Ham’s valuation of the player.
However, the Tyneside outfit are continuing negotiations with West Ham and are keen on agreeing a deal for the player before next Tuesday.
Ashby has made seven senior appearances for the London outfit and this season he has made two outings in Europe for David Moyes’ side.
Newcastle have almost wrapped up the deal for Anthony Gordon from Everton and it remains to be seen whether they will be able to snap up the young defender from West Ham too in January.