The 20-year-old France Under-21 international full-back is now on his way to England for a medical ahead of concluding a deal.
Nancy revealed the news on their website, confirming that a deal was in place with Newcastle.
A statement read: "After 46 games and two-and-a-half years in the Nancy shirt, Massadio Haidara is leaving his former club for Newcastle United, currently sixteenth in the Premier League.
"The two clubs have reached an agreement and will finalise the transfer on Tuesday."
Newcastle, who also have a deal in place for Montpellier captain Mapou Yanga-Mbiwa, hope to complete both deals in the next 48 hours.
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