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...