Shelvey has lost his regular spot in the side at St James’ Park and Forest have zeroed in on the midfielder to add to Steve Cooper’s squad.
The player is keen to move to the City Ground and is now claimed to be on the verge of doing so.
Shelvey has recently been out injured with a calf issue, but he is close to full fitness and Forest are happy to snap him up.
They feel the former Liverpool midfielder would be a good addition to a squad looking to secure survival in the Premier League this season.
Shelvey, who has also had a hamstring injury this season, has made just five appearances for the Magpies in the ongoing campaign.
He will be keen to start to again clock regular starts if he does head to Forest.
Newcastle themselves could look to sign a midfielder before the transfer window closes, with the loan market one that the Magpies are assessing.