The Magpies currently sit second bottom on the table with just four fixtures remaining but former hero Ameobi is confident Rafa Benitez has the players at his disposal to get the points required to beat the drop.
"I still believe that the club will be in the Premier League come the end of the season," Fleetwood Town's Ameobi said.
"With the manager and the quality that's there, it's just about putting it together.
"I'm all for all the north-east clubs being in the same league, Middlesbrough included. Those are the games that you look for at the start of the season. That adds to our season, having the two Sunderland games there.
"The fans look forward to those games and I'm a big fan of all the north-east teams doing well.
"Ideally Newcastle are at the top of that pile, which we have been in recent years. It will mean Sunderland and Norwich going down but my allegiance isn't to any of those teams, it's to Newcastle first and foremost.
"It would be unfortunate for them but all that matters in terms of being a fan is that Newcastle stay in the league."