Manager Alan Pardew, who has one domestic loan up his sleeve to add to QPR striker Loic Remy, wants the England international until the end of the season.
Newcastle were in the running to sign the 21-year-old from Crystal Palace last season but were blown out of the bidding when United offered Palace £15million.
On loan: David Moyes is looking to get Wilfried Zaha some Premier League experience in the new year
Since that move Zaha, who has two England caps, has also played just two Barclays Premier League games and manager David Moyes has acknowledged he may need a loan spell away from Old Trafford.
They were facing competition from Everton, who are also vying for and looking seriously at Aiden McGeady, who is virtually begging to leave Spartak Moscow, but the North East club appear to be further along with their offer.
Zaha impressed immensely during his spell in the Championship but has not been trusted on many occasions by Moyes to make an impact. He has not played in any of their big games yet this season.
Tussle: Zaha challenges with Newcastle's Mapou Yanga-Mbiwa when the clubs faced one another
Used sparingly: Zaha has only featured twice in the league for Manchester United this season
It
has become a problem position for the under-fire United boss who has
struggled to get the best out of Ashley Young, Antonio Valencia and Nani
since taking over at Old Trafford.
Roy Hodgson has tried him out for England but Zaha's chances of making the World Cup squad look minimal with little first team club action.
If Zaha does go on loan and still fail to perform, United may have little choice but to let him leave temporarily next season as well, until he shows that he can cut it at a top Premier League side.
Roy Hodgson has tried him out for England but Zaha's chances of making the World Cup squad look minimal with little first team club action.
If Zaha does go on loan and still fail to perform, United may have little choice but to let him leave temporarily next season as well, until he shows that he can cut it at a top Premier League side.
Bringing in: Alan Pardew is hoping he can secure Zaha on loan to bolster his attacking options