The 19-year-old recently completed a two-week trial with the Magpies and now looks set to complete a permanent move to Tyneside.
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Good signed his first professional contract in February after graduating from the Australian Institute of Sport and is believed to be valued at around £400,000.
The player's agent, Zeljko Susa, told the Herald Sun: "Discussions are ongoing and we are hopeful of a positive outcome.
"It would be a fantastic opportunity for Curtis to continue his football development with a successful club from one of the world's best leagues."
Good played 25 times for the Melbourne side last season - starting 19 of those - as they reached the A-League final for the first time in their history.