The 26-year old striker has been linked with the likes of Tottenham and QPR but will now head to Sports Direct Arena to join the Magpies for a fee of around £8.3million.
"We have an agreement with Newcastle for the transfer of Remy," Marseille president Vincent Labrune told RMC. "Loic can negotiate with them."
Marseille midfielder Joey Barton also suggested that the deal had been done.
"Good luck to Loic in Newcastle. Don't worry I've told him what to expect. Great guy. Perfect club for him. #toonarmy," he posted on Twitter.