Permanent moves to both those sides coming to nothing, it looks like a loan spell at the Cherries is on the cards, the player reportedly undergoing a medical.
Wilson said he was excited to now get his chance in the Premier League.
"When Liverpool informed me it was a possibility to come here I was keen to get it sorted".
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Wilson was subject to plenty of interest after his breakout campaign with Derby last term, in which he scored 15 goals in 40 Championship appearances.
Bournemouth forward David Brooks is set to be out for three months following an ankle injury.
Even when looking at the game time that could be on offer, there's an argument to say that Wilson would be better off at Newcastle compared to Bournemouth with Brooks likely to slot back into the starting XI once fully fit.
Liverpool were initially against the idea of a loan switch, preferring either to sell the player permanently or keep him as part of Jurgen Klopp's first-team squad.
Fellow Premier League club, Bournemouth were believed to be ready to meet Liverpool's valuation.