The Daily Mail says Newcastle have submitted an offer to Bolton for Nolan.
Magpies boss Joe Kinnear is eager to bring new faces to St James' Park before the transfer window closes on Monday.
He has lost midfielder Joey Barton for the next eight weeks after the former Manchester City player fractured the fifth metatarsal in his right foot in last night's defeat against his old club.
Nolan would fit the bill as a replacement for Barton, however it is not known whether Bolton are prepared to sell.
The 26-year-old Trotters skipper has made over 300 appearances for Bolton since emerging in the first team as a teenager, and in previous seasons has been tipped as a potential England international.