The former Burnley man has now recovered from serious injury but faces a struggle to fight his way into the Reds starting line-up as Roberto Firmino, Dominic Solanke and Daniel Sturridge are all ahead of him in the pecking order.
A move away looks to be on the cards and reports claim that the Magpies will make another attempt to wrap up a deal after failing to push through a deal in the summer, much to the frustration of Rafa Benitez.
Newcastle are struggling for goals and Benitez is eager to address the situation when the transfer window re-opens with Ings still said to be high on his list of targets.
Reports have suggested that Championship outfit Leeds United are also in the hunt to do a deal, but Newcastle would be in the box seat if they can offer him the chance to stay in the Premier League.
Liverpool are not expected to stand in the player's way should Newcastle make a bid, but they will not be willing to let him go on the cheap either.