The forward was linked to the likes of Manchester United and Tottenham in the past.
However, Dybala never did move to England, heading to Roma from Juventus instead.
Now, according to Corriere Della Sera, a move may be back on the cards.
The forward has a release clause of £11 million that Newcastle may want to trigger.
However, Dybala's current £183,000-a-week wages may prove an issue for the Magpies, given their Financial Fair Play budget constraints.