Harewood is expected to move to the north-east on a two-month deal as Hughton looks to bolster his attacking options and push for promotion from the Championship at the first attempt.
The Magpies lie second in the table after an impressive start to the campaign and Hughton hopes to have the former Nottingham Forest man available for Saturday's trip to Ipswich.
He told the club's official website: "We are still waiting for finalisation and paperwork to be completed. But we have an agreement to bring him in and we're very much hoping the deal goes through before the weekend."
Harewood, 30, arrived at Villa Park for £4million from West Ham in July 2007 but failed to force his way into manager Martin O'Neill's plans.
He has scored just seven goals for the Premier League club and has not featured in the first team since returning from a loan spell with Wolves last season.