Eddie Howe has been rocked by Isak’s reported transfer request with Liverpool understood to be willing to break the British transfer record for a second time this summer to sign him.
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Newcastle are understood to be wasting no time in looking for a potential replacement and have been linked with the likes of Benjamin Sesko.
According to the Express & Star, Larsen, 25, has risen to the top of Newcastle’s shortlist as they prepare for life without Isak.
Larsen only joined Wolves on a permanent basis this summer having spent 2024-25 on loan from Spanish side Celta Vigo.
Wolves are understood to be reluctant to part ways with Larsen so soon after scoring 14 goals and providing five assists in his 38 games last season.