That’s according to the Northern Echo, who report that the Magpies hold a strong interest in the 19-year-old Scot.
The youngster is out of contract at the DW Stadium come the end of the season, with the Latics still fighting for their lives at the foot of League One.
Despite his side’s poor showing in the league, however, Joseph himself has impressed, scoring five goals in 14 outings – including a winner against Sunderland back in December.
It is understood that Celtic are also keen on the starlet, and were considering offering a compensatory fee of around £200,000 for his services.
Newcastle would be willing to go considerably higher than that, and could table an offer of closer to £1 million, staggered over a number of payments.
A bid is expected as soon as the season ends.
Joseph has drawn big praise from his manager Leam Richardson this season.
Speaking after the Scot bagged his first ever career hat-trick in December, the Latics boss told Wigan Today: "The harder you work, the luckier you get, and it's no coincidence he's come away with a hat-trick.
"He's such a great lad, and the lads themselves will keep him grounded, myself included.
"The kid's still young, he's still a work in progress, he's not the finished article by any stretch of the imagination but he'll obviously take most of the headlines, and we'll let him enjoy this for sure."
Elsewhere, Newcastle are set to rekindle their interest in Sampdoria defender Omar Colley.
According to Gazzetta dello Sport, the Toon Army failed with a bid for the Gambian international in January, but his future could still lie in the Premier League.
If that is the case, a summer pursuit could be on the table as the Magpies look to strengthen their defensive line.
Colley has made 21 appearances in Serie A this season, and joined Sampdoria in 2018 for a fee of around £7.2 million.
We’ve gathered the rest of today's Premier League speculation below...

. NEWCASTLE UPON TYNE, ENGLAND - JANUARY 03: A general view of the sun setting behind the West stand of St James' Park, during the Premier League match between Newcastle United and Leicester City at St. James Park on January 03, 2021 in Newcastle upon Tyne, England. The match will be played without fans, behind closed doors as a Covid-19 precaution. (Photo by Stu Forster/Getty Images)
St James' Park. (Photo by Stu Forster/Getty Images) Photo: Stu Forster

. Albion keen on Balikwisha
Brighton and West Brom are both keeping tabs on Standard Liege teenager Michel-Ange Balikwisha. (Le Soir) (Photo by JOHAN EYCKENS/BELGA MAG/AFP via Getty Images) Photo: JOHAN EYCKENS

. Hamburg want Nmecha
HSV Hamburg are ‘keeping an eye on’ Manchester City youngster Lukas Nmecha ahead of a possible move this summer. (24 Hamburg) (Photo by Martin Rose/Getty Images) Photo: Martin Rose

1. Albion keen on Balikwisha
Brighton and West Brom are both keeping tabs on Standard Liege teenager Michel-Ange Balikwisha. (Le Soir) (Photo by JOHAN EYCKENS/BELGA MAG/AFP via Getty Images) Photo: JOHAN EYCKENS

2. Hamburg want Nmecha
HSV Hamburg are ‘keeping an eye on’ Manchester City youngster Lukas Nmecha ahead of a possible move this summer. (24 Hamburg) (Photo by Martin Rose/Getty Images) Photo: Martin Rose

3. Bryan in demand
Fulham, Burnley and Swansea are plotting moves to sign Sheffield United defender Kean Bryan on a free transfer. (Football Insider) (Photo by MOLLY DARLINGTON/POOL/AFP via Getty Images) Photo: MOLLY DARLINGTON

4. Villa interested in Gerrard
Aston Villa are keen on Rangers manager Steven Gerrard ahead of the summer transfer window. (Football Insider) (Photo by Ian MacNicol/Getty Images) Photo: Ian MacNicol