The 22-year-old caught the eye of Newcastle after his emergence in the Sassuolo side last season.
Newcastle first signaled their interest in the Brazilian back in May and recently stepped up their attempts to sign him.
Talks are now at a very advanced stage with the two clubs settling the final details.
Rogerio made 15 league appearances for Sassuolo last season, most of them in 2020 after he overcame a meniscal injury.
The former Internacional player is a Brazil under-23 international and most recently represented his country in June 2019.