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Published 11:59 2 Jan 2022 GMT
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The former Borussia Dortmund man could become Newcastle's first marquee signing since the club was taken over, and it could prove to be a crucial one if Howe's men are to avoid relegation from the Premier League.
Additionally, the Magpies could be without Callum Wilson and Allan Saint-Maximin after the duo suffered injuries in the recent draw with Manchester United.
Howe discussed potential transfers last month, stating: "Wait and see, I can’t give you promises on that at the moment.
"As I’ve said before, there’s people above me who are working and looking at that. My focus is the team. A lot of games coming up and that is where it has to be.
"But we’ll wait and see. January, as I said many many times, is notoriously difficult to predict and to have a clear plan at this moment is still virtually impossible because there’s twists and turns to come.
"The group of players we have here is my and has been my main focus, will continue to be my main focus because as you say, getting the best out of every single one of those players is the key to us staying up."
Aubameyang has registered 92 goals and 29 assists in 165 appearances for Arsenal since his arrival in 2018.
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