Fenerbahce have agreed a deal to sign midfielder Emre from Newcastle, according to the Turkish club.
The Turkey international, who is currently preparing for Euro 2008, is expected to sign a three-year contract early next week.
Emre moved to St James' Park from Internazionale for £3.8million in July 2005, but now appears to be surplus to requirements for Toon boss Kevin Keegan.
A statement on the Turkish club's official website said: "Fenerbahce reached an agreement with Newcastle United in order to sign the Turkish superstar Emre Belozoglu."
Fenerbahce also confirmed on their television network FPTV that they are now in talks with the former Galatasary player and his representatives as they look to secure his services.
Emre made 46 league starts during his three-year stint on Tyneside, but was unable to consistently display his undoubted talents in the Premier League.