The 30-year-old is expected to finalise his move to St James’ Park in time for Saturday’s Premier League relegation six-pointer versus Watford.
The relevant paperwork for Wood’s transfer from Turf Moor to the North East must be completed before noon on Friday for him to be available against the Hornets.
Signing a striker had become a major priority for the Magpies following the news that Callum Wilson will spend the next eight weeks out with a calf problem.
Eddie Howe has turned to Wood, formerly of Leeds United and Leicester City, as he aims to guide the club to Premier League safety.
How do Newcastle fans feel about Wood’s impending arrival? Here’s what they told NewcastleWorld editor Liam Kennedy: