Alan Pardew is keen to continue improving his squad and could raid the French market again for the Cameroon international.
The 27-year-old is also on the radar of Spanish outfit Valencia although the Ligue 1 club are likely to demand a fee in the region of £12million.
And with the uncertainty surrounding the long-term future Fabricio Coloccini, Chedjou is seen as the Argentine's perfect replacement at St James' Park.
Speaking with Skyports.com, he said: "I am delighted when teams are being linked with me because it means that I am doing well.
"My agent (Gregory) Gelebert is working with the clubs interested in me, but I am relaxed about the situation.
"Newcastle have shopped in France before and with the likes of (Yohan) Cabaye and former Lille right-back (Mathieu) Debuchy there already, so I will be in a good environment.
"But there is nothing official with Newcastle just yet. It's all paper talk."