The 29-year-old spent last season on loan at English Championship side West Bromwich Albion, with Salomon Rondon moving the other way.
The Venezuelan wore the No 9 jersey last term but left for China at the end of the campaign after the club failed to make his move permanent.
Newcastle brought in Joelinton as his replacement, making the Brazilian their record-signing following the £40 million move.
The Magpies’ new No 9 has struggled to hit the ground running in the English top-flight, though, scoring just once and registering only six shots on target so far, and there are suggestions head coach Steve Bruce is now contemplating whether he can remove him from the XI or at least shift him to the left in the coming weeks.
With just six goals in 10 league games, Newcastle need to start scoring more to boost their chances of survival, and Gayle could now be called upon with the Brazilian struggling.
Andy Carroll continues to struggle with fitness, while Yoshinori Muto remains out of favour, and having established himself as a proven goalscorer in the Championship, Bruce might have no choice than to give the 29-year-old a chance.