The Magpies ace has been one of the Premier League’s most consistent stoppers over the course of the past few seasons, producing countless match-winning displays for his side.
His excellent performances have now alerted Milan, who are keen to delve into the transfer market in the New Year to turn around their poor start to the season.
The San Siro side are thought to be looking for a replacement for veteran ‘keeper Christian Abbiati, who is now 36.
Krul is seen as the ideal man to become their new number one, prompting rumours of a winter swoop.
The 25-year-old is thought to be happy at St James’ Park, but is aware that a high profile move may boost his chances of being in Holland’s quad for the 2014 World Cup.
Alan Pardew is desperate to keep his man – who was in inspired form during their weekend win over Tottenham – and is likely to fiercely oppose any offers.
However, the club may be tempted to sell if an attractive sum is put forward.
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