The 21-year-old has struggled to break into the starting XI under boss Alan Pardew, and was sent out for a spell on loan with Middlesbrough last season.
He is likely to again face a challenge to nail down a regular berth in 2013-14, but he insists that he is determined to stay and work hard to make his breakthrough.
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"This is a big season for me, it's make or break. I will either be playing Premier League or further down the leagues. I want to be here at the top level, I've had a good start to pre-season I want to keep that going."
The young forward has impressed during pre-season, including setting up a goal for Papiss Cisse in the club's 2-0 win over St Mirren on Tuesday.
He could yet be forced further down the pecking order, with Darren Bent, Loic Remy and Bafetimbi Gomis all being linked with the club.
However, Pardew insists that Ameobi and fellow fringe player Paul Dummett can still make an impact.
"At the minute, Sammy and Paul Dummett have put their head above the parapet and now they have to stay there," he said. "That's the hard bit, staying there. I want Sammy to do that."