The 27-year-old appeared likely to leave St James' Park during the summer, but a change in his role under new manager Matthias Jaissle has transformed his fortunes.
Willock has already scored three goals this season and has been used both as a No.10 and in a deeper midfield position.
His latest goal came in Newcastle United's victory over Hull City, when he opened the scoring.
The midfielder's contract expires at the end of the season, meaning he could sign a pre-contract agreement with an overseas club from January if no extension is agreed.
Besiktas were among the clubs interested in Willock during the summer, but Newcastle are now considering offering him a new deal.
Former Arsenal striker and Sky Sports pundit Alan Smith believes the club should reward the midfielder's improved form.
“Willock is playing really well,” Smith said.
“Under Eddie Howe, he was in and out. He was never a starter. And now I think he's reaping the benefits of playing more football.”
Willock has responded to the regular minutes with three goals and a series of energetic performances in Newcastle's midfield.
“He's got himself three goals, lots of energy, and makes good runs into the box,” Smith added.
“So it would be a surprise, I think, if they didn't sign him on again, because he's showing really good form.”
Willock originally joined Newcastle from Arsenal in 2021 after an impressive loan spell at the club.
He subsequently signed a six-year contract, but his progress was disrupted by injuries and competition for places.
Under Howe, he often found himself moving in and out of the starting XI.
Jaissle has given him a more prominent role and appears willing to use his versatility rather than restricting him to one position.
That has coincided with one of the strongest spells of Willock's Newcastle career.
The situation leaves the club with a decision to make before January.
Newcastle want to retain the midfielder, but Willock has yet to commit his future and could have other opportunities available if he reaches the final months of his contract.
For now, his performances have changed the conversation around his future.
A player who looked likely to leave during the summer is once again an important part of Newcastle's plans, with his contract situation now one of the club's decisions to resolve.