The highly-rated 20-year-old full-back has attracted interest from a number of English clubs in the last 12 months.
Aston Villa tried to buy him last summer, but now Newcastle have stepped up their interest and have made a firm offer.
Sky Sports understands that Newcastle made their move last week and are now continuing talks over a possible deal.
It is believed Newcastle's initial bid is around £2million, although there is interest from elsewhere in Europe with Roma strongly linked.
Haidara has even been quoted as saying in Italy that he would rather move to Serie A than the Premier League.
"I prefer Roma to Newcastle, as I prefer Serie A," Haidara is quoted by TMW.
"I'd love to play in Italy, though Newcastle are also a good team.
"I know that my agent has spoken to both clubs, we'll see what happens. As far as I am concerned, I'd love to play in Italy."