The 24-year-old played in six of England’s seven games at Euro 2024 and was one of the tournament’s standout performers.
Guehi established himself in a defensive partnership with John Stones and only missed the quarter-final win over Switzerland through suspension.
He has been monitored by several top Premier League clubs after excelling in 111 appearances for the Eagles since arriving from Chelsea in July 2021.
As first reported by the Athletic, external, Newcastle are the first club to enter formal discussions over the defender.
The Magpies are in the market for a centre-back and have been linked with Liverpool defender Joe Gomez, 27, this summer.
Guehi has two years remaining on his contract and Palace will be keen to avoid one of their prized assets from running down his deal.
The Eagles, who signed Guehi from the Blues after a successful loan spell with Championship side Swansea, have made a strategy of buying exciting young talent from the second tier.
They signed Eberechi Eze and Michael Olise from the division below, with the latter joining German giants Bayern Munich for around 60m euros (€50m) this summer.
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