Roger Schmidt's side got the better of Girona 4-2 last time out, while the Magpies overcame Burnley 9-2 on aggregate over the course of two friendlies on Tuesday.
Match preview
The 11th edition of the Eusebio Cup - hosted by Benfica since 2008 - will see the Lisbon-based outfit attempt to get their hands on the trophy for just the fourth time, having been forced to settle for runners-up on seven occasions.
Not since 2012 have the hosts come up trumps in the Eusebio Cup, but Roger Schmidt has made the perfect start to life in Portugal since leaving PSV Eindhoven, with Benfica posting four wins from four friendlies so far this summer.
After coming out on top against Reading, Nice and Fulham, Benfica were convincing winners in a 4-2 success over Girona on Friday, with Jan Vertonghen, Alexander Bah, Roman Yaremchuk and Rodrigo Pinho on target in the second half.
Tuesday's clash will represent Benfica's final pre-season friendly before their competitive action for 2022-23 begins in the Champions League, as either Midtjylland or AEK Larnaca will lie in wait in the third round of qualifying at the start of August.
The acquisitions of Enzo Fernandez and David Neres in particular have helped Benfica add a new dimension to their starting XI in pre-season, but Newcastle have also been scoring for fun in the exhibition period.
Newcastle only have a short journey to make for the Eusebio Cup, as Eddie Howe's side travelled to Lisbon for a pair of friendly encounters with Burnley after sharing the Cidade do Futebol training facilities with Vincent Kompany's side.
One half of the Magpies squad hit Burnley for six in a romping 6-1 success over the Clarets, with Joe Willock at the double, while the other portion beat another Clarets XI 3-1 in a near-perfect afternoon for the St James' Park outfit.
Four wins from five pre-season games is just what the doctor ordered for Newcastle as they prepare for three challenging contests before the end of the month, as Atalanta BC and Athletic Bilbao will visit Tyneside on July 29 and 30 respectively.
Surprisingly, the Magpies have not been active in the transfer market since Sven Botman's transfer was confirmed at the start of the month, but more can be expected through the door before the window slams shut.
Benfica and Newcastle have locked horns competitively before in the quarter-finals of the 2012-13 Europa League, with As Aguias winning 4-2 on aggregate before suffering final heartbreak at the hands of Chelsea.
Benfica pre-season form:
Newcastle United pre-season form:
Team News
With only one pre-season left to play and no injury concerns to report barring long-term absentee Lucas Verissimo, Benfica boss Schmidt can be expected to put out a particularly strong XI on Tuesday.
Odysseas Vlachodimos was only brought off the bench against Girona but ought to start this one, as Nicolas Otamendi and Morato pair up in the heart of the back four.
Alejandro Grimaldo is seemingly set to remain at Benfica following previous links with Arsenal, and a potent front three should see Neres and Rafa Silva provide support to Goncalo Ramos.
As for Newcastle, the defensive injuries are already piling up for Howe, who has concerns over Jamal Lewis, Federico Fernandez, Fabian Schar and Javier Manquillo, none of whom were able to play a part against Burnley.
The quartet are not nursing anything more serious than minor muscular strains, but Manquillo has returned to his native Spain for treatment on a groin problem as Kieran Trippier mans the right-hand side here.
Martin Dubravka and Chris Wood were also notable absentees from the showdowns with Burnley, with Nick Pope and Callum Wilson likely to start on Tuesday as a result.
Benfica possible starting lineup:
Vlachodimos; Gilberto, Otamendi, Morato, Grimaldo; Fernandez, Florentino, Mario; Neres, Ramos, Silva
Newcastle United possible starting lineup:
Pope; Trippier, Lascelles, Botman, Targett; Joelinton, Guimaraes, Longstaff; Fraser, Wilson, Saint-Maximin
We say: Benfica 2-1 Newcastle United
While Newcastle are undoubtedly making significant progress in the wake of their lucrative takeover, getting one over revered European opposition in Benfica may still just be a step too far.