The Magpies look to have beaten several clubs to secure the services of the highly-rated 19-year-old with Brighton and Hove Albion and Leicester City both said to be interested.
United boss Rafael Benítez reportedly travelled to speak to Abraham directly this week on the Spaniard's own wedding anniversary to persuade the former Bristol City man to join him for the 2017-2018 season.
A deal could be clinched within the next 48 hours as the Toon Army remain aware of surrounding interest on their transfer target.
Receiving the plaudits
Abraham rightly received plenty of plaudits last season for his excellent season whilst on loan at Ashton Gate.
While Abraham was unable to find the net against the Magpies last term, the England U21 international hit 26 goals in all competitions - informing clubs of the talent that the 19-year-old possesses.
The Championship's 2016-2017 third-top goalscorer is highly-regarded by the Premier League champions and they were said to be open to including the youngster into next season's first-team plans.
But with Benítez reportedly close friends with the Blues' technical director Michael Emenalo, the 56-year-old has seemed to convince Chelsea that he can give the game time and coaching that Abraham needs for his development.
If Abraham is to lead the line for the Magpies on their top-flight return next season, it will come as a challenging task for the 19-year-old, which could be cause for concern amongst some Newcastle supporters.
With Dwight Gayle as the only recognised striker to hit double figures on the goal scoring front last season, the Magpies are in need of a proven striker in this summer's transfer window.
Abraham has proved his worth in the Championship, but as many players know, the Premier League is a completely different ball game. Not only is it a big season for the young striker's development, Newcastle are looking to stabilise themselves in the top-flight once again.
For Abraham's sake, it will be a test he will want to take on on Tyneside if he wants a future at Chelsea. And for a loan deal, it is certainly a risk that Newcastle will have no qualms about taking.
However, if Abraham is to be the only striker that is recruited by the Magpies ahead of the new season, it may be a risk that could see United suffer in front of goal. But of course, the club's supporters fully trust Benítez's judgment.