The midfielder has made a positive impact since joining the Magpies in January, scoring two vital goals that have helped to secured his side four points, and generally adding a dash of much needed energy to the centre of the park.
In fact, it is understood that the Toon Army are already keen on keeping Willock at St. James’ Park, but doing so won’t come cheap.
The Mirror report that Arsenal are open to selling their academy product, but will only do so if their eight-figure fee is met.
However, it remains to be seen whether or not Newcastle chiefs have the means or desire to fork out that amount of money on the 21-year-old, and as such, another loan bid could prove to be a more realistic option.
Despite only having played 602 minutes in the Premier League since arriving in the north east, Willock is already considered to be the Magpies’ sixth-highest-rated player this term, according to Whoscored.
Elsewhere, Kyle Scott’s proposed move to the MLS appears to have hit the buffers.
Football Insider reported earlier in the week that the Toon midfielder, who is still yet to make a first team appearance on Tyneside, had received a contract offer from FC Cincinnati ahead of his current deal expiring at the end of the season.
Reports are now suggesting, however, that the ex-Chelsea man has turned down the deal, and will instead look to stay in Europe.
We’ve gathered the rest of today's Premier League transfer speculation below...

1. Juve want Bellerin
Arsenal defender Hector Bellerin has emerged as a target for Juventus. (Calcio Mercato) (Photo by Julian Finney/Getty Images) Photo: Julian Finney

2. Leeds tipped for Ramsdale swoop
Leeds United may consider a summer move for Sheffield United shot-stopper Aaron Ramsdale, according to Noel Whelan. (Football Insider) (Photo by Carl Recine - Pool/Getty Images) Photo: Pool

3. Willock price set
Arsenal could be willing to let Newcastle United loanee Joe Willock leave for £20 million this summer. (Mirror) (Photo by Stu Forster/Getty Images) Photo: Stu Forster

4. Scott rejects move
Newcastle United midfielder Kyle Scott has turned down a move to FC Cincinnati despite recent reports suggesting that a move was close. (Various) (Photo by Pete Norton/Getty Images) Photo: Pete Norton

